AUD/JPY struggling to hold 84.00

• AUD/JPY fails to make new ground in rough trading to begin the week.
• BOJ Kuroda comments continue to sway market sentiment.

AUD/JPY moved sideways in choppy Monday trading and is once again trying to hold on to the 84.00 handle.

With economic data for Australia continuing to middle, The Reserve Bank of Australia (RBA) is stuck firmly in wait-and-see mode while the Australian economy continues to grind at a slower pace than global trends. The RBA is widely expected to hold rates down well into 2020, and have not ruled out the potential for further easing measures if things don't start to improve soon.

Following Monday's comments from Bank of Japan's (BOJ) Governor Kuroda affirming the central banks dedication to ultra-easy monetary policies until the Japanese economy reaches their lofty 2% growth target, the Yen has become the main driver in Asia markets. Swings in market sentiment brought on by Yen buying and selling has sent the AUD/JPY pair sideways as markets plug their cash in and out of the Yen's safe haven protection.

AUD/JPY Technicals

The pair is deep into bearish territory, but a recent Daily hammer candle may have priced in a floor from 83.27. H4 charts also show a potential double bottom from the same region, while intraday support currently sits at 83.66 and 83.50 while resistance piles up from 84.20 to 84.50.