S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketAUD/JPY Price Forecast: Weakens below 113.00, while broader uptrend remains intact
- AUD/JPY weakens to around 112.95 in Monday’s early European session.
- The cross keeps bullish vibe above the 100-day EMA, but further consolidation cannot be ruled out in near term.
- The immediate resistance level emerges at 113.40; the initial support level is seen at 112.00.
The AUD/JPY cross loses ground near 112.95 during the early European session on Monday. The Australian Dollar (AUD) softens against the Japanese Yen (JPY) as uncertainty surrounding Middle East tensions and the closure of the Strait of Hormuz boosts safe-haven assets.
US President Donald Trump announced the US will begin guiding ships through the Strait of Hormuz starting Monday, per CNN. Meanwhile, Iranian official Ebrahim Azizi warned that the plan is a violation of the ceasefire.
On the other hand, markets expect the Reserve Bank of Australia (RBA) to deliver a third straight interest rate hike on Tuesday. The primary driver is a significant jump in headline inflation in March, fueled by global energy shocks and Middle East tensions.
Technical Analysis:
In the daily chart, AUD/JPY maintains a constructive bullish bias as spot holds well above the 100-day Exponential Moving Average (EMA), keeping the broader uptrend intact despite the latest pullback from recent highs. Price is also trading above the lower Bollinger Band, while the Relative Strength Index (RSI) at 50.8 has eased back to neutral territory, hinting at a consolidation phase rather than an outright reversal.
On the topside, initial resistance is aligned with the 20-day Bollinger middle band at 113.40. A sustained break above this pivot would expose the April 28 high of 114.72, en route to the upper Bollinger band near 115.18 as the next bullish target. On the downside, immediate support is seen around the 112.00 psychological level, followed by the lower Bollinger band at 111.65; a deeper correction towards the 100-day EMA at 109.37 would still be consistent with a broader bullish structure while offering a potentially stronger demand zone.
