AUD/JPY climbed to about 100.90 in early European trading on Wednesday. The yen is under pressure after the Bank of Japan, influenced by Prime Minister Sanae Takaichi’s pro-stimulus stance, signaled it isn’t in a hurry to lift rates further. That said, occasional verbal interventions by Japanese officials could help limit any sharp yen declines for now.
From a technical standpoint, the pair remains firmly bullish over the medium term. It’s trading above its 100-day exponential moving average on the daily chart, and the 14-day RSI sits around 59.95—comfortably above the 50 midpoint—suggesting upward momentum remains strong.
Key levels to watch:
- On the upside, initial resistance is at 101.03 (October 31 high). A clear move above that could send the cross toward the upper Bollinger Band near 101.80, with a further hurdle at 102.30 (November 8 high).
- On the downside, the round-number 100.00 mark offers the first support. A break below here could drag AUD/JPY down to 98.97 (November 7 low). Should that level give way, the next critical support lies in the 97.65–97.60 area, which also aligns with the lower Bollinger Band and the 100-day EMA.
AUD/JPY – Daily Timeframe Chart
