AUD/JPY tumbles to near 103.50 on mixed Australian employment data

The Australian Dollar (AUD) weakened against the Japanese Yen (JPY) due to the release of mixed Australian employment data, causing AUD/JPY to tumble to around 103.50. The employment results hinted at economic weakness, prompting traders to adopt a risk-averse stance. As employment data typically has a direct impact on currency strength, the mixed outcome created a negative impression of the AUD. Market participants are now focusing on the level of 103.50, which appears to act as a significant area of interest. From a technical perspective, indicators like moving averages and RSI suggest an increasing downward pressure in the short term. The market's response to this level will be crucial as traders assess the potential for further movement.