AUD/JPY has retreated to 104.50, marking a halt to its five-day winning streak. The currency pair had reached a peak of 104.72 during early Asian trading on Wednesday, the highest level seen since July 2024. This pullback reflects a broader market correction after a significant rally, indicating potential resistance levels may be forming around the 104.70 mark.
The recent surge in the AUD/JPY exchange rate can be attributed to shifting market dynamics, including fluctuations in risk sentiment and economic indicators from both Australia and Japan. Traders are closely monitoring developments that could influence future trading patterns, particularly as the USD and EUR remain under scrutiny amid ongoing geopolitical tensions and economic data releases. The current pullback could provide insights into the sustainability of the recent gains in this currency pair.
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Data Source: FX Killer Analysis Team Updated: 2025-12-24 05:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.