Listen to the market mood for the AUDJPY currency pair in the coming session:

Weak JPY
The JPY is weaker today on the reversal of safe-haven flows after global stocks recovered yesterday. The Nikkei was higher again overnight and a risk-on tone is holding over from Wall St.’s close last night.

Strong AUD
Expect the AUD to be stronger today after the CPI data showed a beat, and stocks rebounded yesterday.

Expect AUDJPY buyers on deeper pullbacks, but be aware the USD will be in focus with the FOMC rate decision and this may impact risk.

Risks to this outlook
Any bad news on the coronavirus outbreak that triggers a return to a risk off-market.