Australia Employment Change rises by 77.4K and Unemployment Rate falls to 4.0% in February.

While global markets are optimistic about peace between Russia and Ukraine in the future, headlines from China have also contributed to this risk-on mood.

The risk catalysts of remain in control with eyes on 2018.

AUD/JPY celebrates positive Australia employment data with a new high, reaching around 87.00 at press time on Thursday's Asian session. The risk-on mood, which weighs on Japan's safe-haven market demand, is also contributing to the pair’s upward momentum.

Australia's Unemployment Rate fell to 4.0%, which is below the 4.1% expected and 4.2% before. However, the Employment Change rose above 37K market forecasts and 12.9K prior readings to 77.4K. The Participation Rate also surpassed the 66.2% consensus and 66.3% consensus, to reach 66.4% by February.

The US stock Futures and Asia-Pacific Equities reflect a brighter mood, while the US 10-year Treasury yields fall from their highest levels in 2019, to 2.147%.

The rejection by Kyiv of the proposed neutrality in the fifteen-point peace plan, and the International Court of Justice's order for Russia to suspend its invasion of Ukraine have sparked concern. However, markets remain hopeful due to the ongoing peace talks and the recent easy tone from Moscow. The receding COVID-19 woes of China, due Wednesday's easing of daily infections, are encouraging markets to join China Vice Premier Liu He to push for measures to boost China's economy in the first quarter (Q1), to maintain a firm risk appetite.

It is worth noting that the AUD/JPY price rises due to Japan's slower-than-expected YoY growth of Machinery Orders to 5.1%.

However, headlines about Russia-Ukraine or China could attract AUD/JPY buyers who are looking ahead.

Analyse technique

AUD/JPY remains on the way to challenge the year 2018 high of 89.07 unless providing a daily close below a 10-month-old resistance-turned-support near 86.65.