At the time of writing, AUD/JPY is trading at 74.23, down -0.35% within the day's range of between 73.91 and 74.70.
With month-end pressures now in the rearview mirror, there is going to be a focus on global economic data.
However, though this is a holiday-shortened week, liquidity might be challenging and equities will continue to be the primary factor for the cross.
AUD/JPY can be expected to remain a choppy trading range ahead of critical jobs data from the US.
Today's data has been with the US ISM manufacturing release and the June FOMC minutes which arrive at the top of the hour which will help to define how risk sentiment evolves ahead of Thursday's (early) US Nonfarm Payrolls report.
The first risk-on reaction today came from economic activity in the US' manufacturing sector, boosting wider risk sentiment and thus AUD/JPY.
This expanded in June with the ISM's Manufacturing Purchasing Managers' Index (PMI) improving to 52.6 from 43.1 in May. The reading came in better than the market expectation of 49.5.
Commenting on the data, "June signifies manufacturing entering an expected expansion cycle after the disruption caused by the coronavirus (COVID-19) pandemic," said Timothy R. Fiore, Chair of the ISM's Manufacturing Business Survey Committee