The AUD/JPY currency pair moved higher, reaching levels close to 113.00 during the early European session on Monday. This upward movement was driven by weaker-than-expected Japanese Gross Domestic Product figures, which weighed on the Japanese yen.
According to FX Street, the pair’s advance was notable as it approached the 100-day simple moving average, signaling potential technical support for further gains. The softer GDP data undermined confidence in the yen, providing an opportunity for the Australian dollar to strengthen against it.
In the context of ongoing market volatility, currency traders remain attentive to Japan’s economic indicators, as fluctuations in the yen can influence broader risk sentiment across Asian markets.