AUD/JPY Bulls Face Seasonal Headwinds Amid Intervention Fears

The AUD/JPY cross is currently trading at around 114.25 after a strong Australian employment report for June showed that Australia's Unemployment Rate remained steady at 4.4%, in line with market expectations, while Employment Change surged to 76.3K from 44K (revised) in May, exceeding forecasts of a 15K increase.

However, fears of Japanese currency intervention may limit the cross's upside potential as Japan's Finance Minister Satsuki Katayama stated that officials are prepared to act on currency shifts whenever necessary and take decisive steps on foreign exchange.

Techincally, the AUD/JPY retains a bullish bias above the 100-day SMA and Bollinger Bands' 20-day SMA in the daily chart, with the RSI at 63 suggesting firm positive momentum but also hinting that upside progress may slow due to nearby resistance.