AUD/JPY Rebound Halted by Key Resistance Zone

The AUD/JPY cross has rebounded above 110.50 following a period of selling pressure, but its upside is still capped by a key resistance zone.

The rebound is attributed to improved risk appetite and commodity prices stabilizing in Asian trading. Meanwhile, the yen softened as Japan's economic data pointed to continued accommodative policy from the Bank of Japan, despite global tightening trends.

A clear break above the 110.80-111.20 resistance zone would open the door toward the next psychological level at 112.00, while failure to overcome resistance could see the pair consolidate in a range.