AUD/JPY resumes trading in place after RBA holds on rates

• The Aussie climbed ahead of the RBA rate decision, and the build-up has given way to a lack of momentum.
• The RBA has held pat on rates, as widely expected, with little change to the rhetoric of their rate decision.

The AUD/JPY has been climbing steadily in the Tuesday market session, climbing back up to 81.50, but the mood seems to have soured somewhat following the RBA's rate decision that sees the headline rate remain in place, and a lack of adjustment in the RBA's rhetoric on the matter doesn't seem to be helping Aussie bulls.

The Aussie has been steadily working back losses incurred against the Yen in Monday's broad-market run for safety following China's surprise implementation of tariffs over the long weekend on US goods that they announced just last week. The tariffs went into effect on Monday, and markets have taken the move to heart as the potential for an all-out trade war inches closer.

The Reserve Bank of Australia is out with their Interest Rate Decision, and the RBA held steady on rates as was widely expected, and the central bank also toed the line with the usual rhetoric lamenting sluggish wages growth and inflation that struggles to reach the 2 percent magic number that the RBA has set out as their target before beginning to lift rates.

Little else remains on the docket this week for either currency, though the Aussie will be seeing Trade Balance figures early on Thursday.

AUD/JPY Levels to consider

Support has been priced in from Monday's low near 80.85, and a break lower will run into further support at March's low of 80.50, while a bullish continuation of today's action will be seeing resistance from the upper bound of last week's consolidation area near 81.80, with further resistance at the previous week's swing high at 82.55.