AUD/JPY Holds Bullish Above 113.50, Supported by Rate Differential
The Australian dollar strengthened against the yen in early European trade Tuesday, with the cross holding above 113.50 and staying above its 100-day SMA, supported by the interest rate gap between the RBA and BOJ.
AUDJPY
The AUD/JPY cross traded around 113.85 during early European hours on Tuesday, maintaining a bullish bias above the 113.50 level.
Gains were underpinned by the interest rate differential between the Reserve Bank of Australia and the Bank of Japan, with the Aussie drawing demand from the rate advantage.
The pair also held above the 100-day simple moving average, suggesting the near-term uptrend remains intact.
Source: FXStreet Forex News