The AUD/JPY currency pair traded near 109.95 in the early European session on Thursday, showing signs of recovery from a six-month low, according to FX Street. Despite this upward movement, the pair remained below its 100-day simple moving average (SMA), indicating ongoing resistance at this technical level.
FX Street reported that the pair’s positive momentum was evident early in the session, yet the inability to break above the 100-day SMA suggests cautious sentiment among traders. The 100-day SMA is widely watched by market participants as a key indicator of medium-term trend direction.
For Japanese investors, movements in AUD/JPY are significant as they reflect shifts in risk appetite and global commodity prices, both of which influence Japan’s export-driven economy and monetary policy outlook.