The AUD/JPY cross is trading higher around 113.55 during early European hours Friday, maintaining bullish momentum above the critical 100-day simple moving average threshold. The Australian Dollar continues strengthening against the Japanese Yen despite recent signs of cooling in Australia’s labor market data, signaling underlying currency resilience independent of employment metrics.
Traders and position managers should note the pair has broken above the 113.50 technical level, with price action remaining in positive territory. Market participants are now looking ahead to Tuesday’s release of Reserve Bank of Australia meeting minutes, which could provide crucial direction for the cross heading into next week’s trading sessions.
The sustained move above the 100-day SMA represents a technically significant development for momentum traders tracking this pair, particularly as it occurs against softening domestic employment conditions that would traditionally weigh on the Aussie.
FXnCO Insight
Position for potential continuation above 113.55 while monitoring Tuesday’s RBA minutes for any hawkish surprises that could accelerate AUD/JPY upside momentum.
Source: FXStreet