In Wednesday's session, the AUD/JPY was spotted at 96.97, gaining a subtle 0.10% gain, and it seems buyers remain in control with the daily chart appearing neutral to bullish and bulls proving their strength in the four-hour chart framework.
The AUD/JPY cross attracts some dip-buying near the 100-hour Simple Moving Average (SMA), around the 97.00 mark, and climbs to a fresh daily peak following the release of Chinese inflation figures.
The AUD/JPY registered modest losses of around 0.20% on Monday despite market sentiment shifting positively, usually a headwind for the safe-haven status of the Japanese Yen (JPY).
The Aussie Dollar (AUD) extended its losses against the Japanese Yen (JPY) for the second straight day, as risk appetite took a toll, while safe-haven currencies posted decent gains.
The AUD/JPY registered moderated gains on Wednesday of 0.46%, though it begins Thursday’s session on a lower note, trading below yesterday’s close of 96.42.