AUD/JPY Price Forecast: Attracts some sellers, initial support level emerges above 102.50

AUD/JPY is experiencing selling pressure around 105.00 during the early European session. This movement is attributed to the strengthening of the Japanese Yen against the Australian Dollar, driven by increasing expectations that the Bank of Japan (BoJ) will maintain its path of policy normalization. Investors are shifting towards the Yen, impacting the short-term outlook for AUD/JPY. Initial support levels have emerged above 102.50, but the pronounced selling pressure at 105.00 indicates limited rebound potential. Market participants should pay attention to price actions at this level to gauge future trends. The weakness of the Australian Dollar contrasts sharply with the bullish outlook for the Yen, necessitating caution among traders.