AUD/JPY bulls using 82.00 as a springboard in the early week

• Aussie is holding its ground against the safe-haven Yen as the market spools up for the new week.
• A mild week for economic data leaves the pair exposed to market sentiment.

The AUD/JPY pair is bouncing off of the 82.00 handle as it heads into another week that promises to get hung up on market sentiment as the broader markets await China's response to the US' threat of seeking additional tariffs on Chinese-made goods.

The AUD saw the AiG Performance of Construction Index print a 57.2 an expansion over the previous reading of 56, and the Aussie seems to be catching some bids as it tries to escape the bearish dumping that capped off action last week. The macro calendar remains quiet for most of the week except for a speech from the Reserve Bank of Australia's Governor, Phillip Lowe, early Wednesday at 03:45 GMT.

The Yen side saw Japanese Trade Balance come out at ¥2,076.0B, slightly undershooting the expected ¥2,160.0B but still better than the previous reading of ¥607.4B. With the JPY functioning as the broader markets' safe haven of choice, good news for Japan also keeps the Yen bedded down for now.

AUD/JPY Levels to watch

Friday's decline brought the Daily candles close to forming a turnaround in the pair, and a bearish continuation will see the Aussie dropping into support from the last swing low near 81.10 with further support from the year's low point at 80.50,  a fourteen-month low for the AUD/JPY, while a bullish push will see resistance at the nearest swing high into the 34-day EMA at 82.65, with the key level to beat for a bullish reversal being March's high at 84.50.