AUD/JPY trades at 110.90 as RBA rate hike speculation provides a floor for the Australian Dollar, though the pair faces ongoing technical resistance below the 100-day SMA.
AUD/JPY holds gains near 111.00 but remains below the 100-day SMA, with RBA rate hike expectations supporting AUD while the overall technical tone stays bearish.
The AUD/JPY pair trades at 110.90 during early European hours, bolstered by growing market expectations for an imminent interest rate hike from the Reserve Bank of Australia. Despite this support, the pair remains technically pressured as it continues to trade below the 100-day simple moving average.
The pair is primarily supported by market expectations that the Reserve Bank of Australia will soon implement an interest rate hike.
Despite recent gains, the pair remains in a bearish technical position as it continues to trade below its 100-day simple moving average.