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Forex

AUD/JPY Falls as Traders Reassess RBA and BOJ Expectations

Guavy AI Editorial Team
Instruments
JPY AUD
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The Australian dollar's initial gains against the yen after the Reserve Bank of Australia's interest rate hike have faded as traders reassess expectations for further hikes and potential policy changes from the Bank of Japan.

The AUD/JPY pair is currently trading at ¥109.35, below its key moving averages with strong bearish momentum projected.

A technical analysis model suggests a range-bound price action for the next two to three days, with support near ¥108.8 and resistance at ¥109.9.

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