AUD/JPY Declines Amid Escalating US-Iran Conflict

The AUD/JPY exchange rate has been declining for four consecutive days, with the Australian Dollar weakening against the Japanese Yen. This trend is attributed to the escalating US-Iran conflict and its broader implications, including a fight between Yemen's Houthis and Saudi Arabia over control of the Red Sea.

The Relative Strength Index (RSI) remains bearish, indicating further AUD/JPY downside. The first support level for the AUD/JPY is 110.50, followed by the psychologically significant 110.00 level. If this level is breached, the next targets are 108.79 and 107.69.

The AUD/JPY price chart shows that it has been trading sideways beneath the 200-day Simple Moving Average (SMA) at 110.88 since September 4. This indicates a bearish trend in the currency pair.