The AUD/JPY currency pair traded near 110.70 during early European trading hours on Wednesday, maintaining positive momentum above the 110.50 level, according to FX Street.
Despite the gains, the pair remains under pressure as it struggles to break above the 100-day simple moving average, indicating a bearish bias in the near term.
For Japanese investors, the movement in AUD/JPY is noteworthy given its sensitivity to risk sentiment and commodity price fluctuations, which continue to influence the broader FX market.