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AUD/JPY rises above 105.00 as risk-on sentiment improves
Key Takeaways (30s Read)
AUD/JPY gains momentum as risk-on sentiment prevails, trading around 105.20.
AUD/JPY is rising, trading around 105.20 amidst improved risk-on sentiment. The pair hit a fresh high of 105.37, the highest since July 2024, earlier in the trading session. This upward movement can be attributed to improved Australian economic data and a favorable environment for risk-taking among investors. The weaker yen is also supporting this trend. Investors are eyeing 106.00 as a possible target while 105.00 remains a critical support level. If the risk-on trend continues, positive momentum is likely to follow.
AI Analyst
AI Opinion
"The rise in AUD/JPY signals a strengthening risk-on sentiment, reflecting a positive outlook among market participants. The improvement in Australian economic data is pivotal in fostering risk-taking behavior, particularly in growth-sensitive assets. Additionally, the accommodative monetary policy from the Bank of Japan is weakening the yen, further boosting demand for the Australian dollar. In the short term, if the price remains above 105.00, the upward trend is likely to persist; however, caution is warranted against abrupt economic indicators or geopolitical tensions. Overall, the positive stance on AUD/JPY is expected to continue."
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