AUD/JPY Weakens Amid US Pressure on BoJ, Technical Bias

The AUD/JPY cross weakened to near 111.00 as bearish technical bias held below the 100-day SMA on Friday.

Traders remained cautious due to US President Donald Trump's concerns over the Yen's weakness during a meeting with Japanese Prime Minister Sanae Takaichi, and Japanese Finance Minister Satsuki Katayama's statement that excessive currency moves harm the economy and intervention should be kept as an option.

The Bank of Japan raised its policy rate to 1.25% last week, but Governor Kazuo Ueda signaled he was open to further tightening, saying he wouldn't rule out a back-to-back hike in October or a larger move at some point.