The Australian yen pair retreated slightly during the Asian trading period on Tuesday, as Australian data showed an improvement in the mood of consumers and businesses as concerns about rising interest rates dissipated with inflation now returning to the target range, although the prospects for an Australian interest rate cut in the near term remain slim.

The Australian currency is struggling as it is affected by the economic outlook of China, Australia's largest trading partner.

On the other side of Japan, the summary of opinions from the Bank of Japan's October policy meeting revealed a split among policymakers on the timing of a future interest rate hike, with some members expressing concerns about global economic uncertainty and increased market volatility, especially in connection with the ongoing depreciation of the yen.

However, the central bank maintained its forecast that it may raise the benchmark interest rate to 1% by the second half of fiscal year 2025.

Technically: - 

the Australian yen pair is trying to consolidate after today's declines and start climbing again to complete the harmonic bat model. The pair is currently trading the highs of the short-term uptrend for the hourly frame. We expect a corrective rise of the pair near the levels of 101.25 as the first target and then the completion of the harmonic pattern near the levels of 101.90 to 102.10. This scenario fails by breaking the 100.00 levels down.