AUD/JPY weaker, eyes 3-week lows on downbeat Aus jobs.

The AUD/JPY cross is on a declining trend so far this week, and meets fresh supply on the release of downbeat Australian jobs report.

AUD/JPY eyes Tuesday’s low

The AUD/JPY pair drops -0.39% to fresh session lows of 76.20 falling further below a break of 76.50 levels. The cross in  the AUD/JPY cross failed to sustain at 5-DMA and extended its retreat thereon, now coming under fresh selling pressure after the Aus employment data were seen as downbeat, mainly on part-time jobs decline.

Moreover, the ongoing strength seen in the yen against the greenback amid risk-off market profile, in response to tumbling Asian stocks also collaborates to the downside in the cross.

Markets now digest the latest economic data out of Australia, as focus now shifts towards a host of macro updates due on the cards from the US later on the day.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 76.78 (5-DMA) and above which it could extend gains to at 77 (round figure).To the downside immediate support might be located 76.06 (multi-week lows) below that at 75.50 (psychological levels).