Forex: AUD/JPY finds support at 84.50; BOJ now in focus

FXstreet.com (San Francisco) - After Monday's rally to 84.75, 7-month high, AUDJPY has come under a bit of selling pressure this afternoon in Asia, encouraged by the RBA minutes that suggested a December rate cut remains on the table (AUD negative). The cross has traded down to an intraday low of 84.50, but not much price action has been seen since, last quoted at 84.65.

Next key event risk for the pair this Tuesday in Asia will fall on the outcome of the BOJ's policy meeting; investors will be looking for any clues that the central bank is may ease further in the near future. Asian shares are higher as markets open in Sydney and Tokyo. Japan's Nikkei is up 0.2%, while Australian shares are up 0.4%.