AUD/JPY Holds Gains Above 114.00, Bullish Bias Intact
The AUD/JPY cross traded near 114.25 in early European hours Friday, supported by a strong Australian employment report that lifted the Aussie dollar. The pair remains above its 100-day SMA, keeping the short-term bullish outlook intact.
AUD/JPY held firm above the 114.00 level during early European trading on Friday, with the cross changing hands around 114.25.
The Australian dollar gained momentum after Australia released a robust employment report, providing a fresh boost to the pair. The positive labor market data reinforced the Reserve Bank of Australia's hawkish stance, supporting the Aussie against the yen.
From a technical perspective, the pair continues to trade above the key 100-day simple moving average (SMA), which acts as a support level. Analysts note that as long as the cross stays above this moving average, the bullish bias remains intact, with the next resistance likely near the recent highs.
Source: FXStreet Forex News