AUD/JPY Stalls Near Resistance as US Treasury Secretary Urges Yen Strengthening
The Australian Dollar vs Yen (AUD/JPY) pair has stalled near ¥114.27 resistance, a key level for traders to watch.
This comes as US Treasury Secretary Scott Bessent urged Japan's government and the Bank of Japan to take action in strengthening the yen.
Bessent's call has increased expectations that the Bank of Japan will raise interest rates in September, a move that could impact currency markets.
The AUD/JPY is currently trading below its key short- and medium-term moving averages, with strong selling pressure and limited rebound potential.