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FxWirePro: AUD/JPY extends weakness despite strong Australia jobs data

Chart - Courtesy Trading View AUD/JPY was trading 0.78% lower on the day at 93.25 at around 12:55 GMT. The pair is poised to resume weakness after failure to break above daily cloud resistance. Upbeat Australia jobs data…

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FxWirePro: AUD/JPY extends weakness despite strong Australia jobs data
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Chart - Courtesy Trading View 

AUD/JPY was trading 0.78% lower on the day at 93.25 at around 12:55 GMT.

The pair is poised to resume weakness after failure to break above daily cloud resistance.

Upbeat Australia jobs data fails to support the pair, Australian dollar trades lower across the board.

Australia's total employment jumped by 32,200, up from just 900 in September. Full-time employment jumped by 47,100, up from 10,900 prior. 

The unemployment rate inched lower to 3.4%, from 3.5% prior, better than expectations at 3.6%.

Robust numbers are unlikely to change the Reserve Bank of Australia’s easy pace of rate hikes. Markets have priced in another 0.25% hike at the December 6th meeting.

AUD/JPY is poised to resume downside. The pair is on track to test 200-DMA support. 

Break below 200-DMA will plummet prices further. Bearish invalidation only above daily cloud. 
 

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