AUD/JPY Dips to 114.00 on Soft CPI, Bullish Bias Holds Above 100-Day SMA

AUD/JPY eased to near 114.00 after Australia's April CPI cooled to 4.2% YoY, sharply lowering June RBA hike odds to just 7%. The pair had earlier climbed above 114.50 on hawkish RBA guidance projecting a 4.7% policy rate and risk-on flows from the Trump-Xi summit, before successive pullbacks triggered by stronger Japanese GDP prints, softer Australian labor data, and Rabobank warnings of narrowing rate differentials. Despite the latest decline, price continues to hold above the 100-day SMA near 111.00, preserving the broader bullish structure intact through the period.