The AUD/JPY pair managed to move-off lows, although remains deep in the red zone as risk-off market profile continues to persist amid falling stocks, oil and bond yields. AUD/JPY faces double whammy Currently, the AUD/JPY pair crashes -2.50% to 78.44, recovering slightly from more than three-year lows reached at 77.61 post-European open. The AUD/JPY cross is seen making minor-recovery attempts on the 78 handle amid a complete risk-averse market environment, as both USD/JPY and AUD/USD try to recover lost ground somewhat. The increased safe-haven bids for the yen drowned the USD/JPY pair to its lowest levels since Oct 2014, while the risk currency AUD/USD suffered heavily as markets pulled out funds from higher-yielding currencies and flocked to safe-havens. Looking ahead, the cross will continue to track the broader market sentiment, while the downside pressure is likely to persist amid ongoing equities rout. AUD/JPY Technical Levels To the upside, the next resistance is located at 79 (round number) and above which it could extend gains to 79.56 (1h 10-SMA). To the downside immediate support might be located 77.61 (daily low) below that at 77 (June 2012 levels). For more information, read our latest forex news.