The AUD/JPY currency pair finds itself at a critical juncture as it hovers around 96.40 during the Asian trading session.

This position comes as traders prepare for the Reserve Bank of Australia (RBA) policy decision later today. A recent downward trend raises questions about whether the pair can recover or will it test the nine-day support levels below 96.50.

Recent trends show traders are cautiously optimistic as news about RBA’s decisions begins to circulate. The outcome of today’s announcement could very well dictate the direction for AUD/JPY in the immediate future.

Keep an eye on market responses post-announcement to capitalize on potential volatility.