AUD/JPY Price Forecast: Gains momentum, holding bullish bias above 100-day EMA
The post AUD/JPY Price Forecast: Gains momentum, holding bullish bias above 100-day EMA appeared on BitcoinEthereumNews.com. The AUD/JPY cross gains ground to around 113.80 during the early European trading hours on Monday. Hopes of a deal to reopen the Strait of Hormuz buoyed risk appetite, supporting the Australian Dollar (AUD) against the Japanese Yen (JPY). The United States (US) and Iran signaled progress in efforts to resolve the conflict, but key details of a framework agreement are still under negotiation, and a US official said it could take a few more days to finalize. However, US President Donald Trump stated that a deal is close, but the US blockade on Iranian ships in the Strait of Hormuz would “remain in full force” until an agreement was signed. On the other hand, markets slash the chance of more interest rate hikes from the Reserve Bank of Australia (RBA) after a surprise rise in the jobless rate. This, in turn, might cap the upside for the Aussie. Unemployment Rate i