AUD/JPY Price Forecast: Gains ground, maintaining bullish bias above 100-day EMA

AUD/JPY remains firm around 113.10 after pulling back from a multi-decade peak at 114.72, maintaining a constructive bullish bias as it trades above the 100-day EMA. The Reserve Bank of Australia’s hawkish stance—supported by a 4.6% YoY March CPI reading—could underpin the AUD, while intervention fears from Japanese authorities constrain upside. Technically, price is testing the 20-day SMA/Bollinger mid-line near 113.30; a sustained break above that level could target the April 28 high of 114.72 and the upper Bollinger band at 115.45. Support lies at the lower Bollinger band near 111.10 and the 100-day EMA around 109.30. Overall, the market impact is a cautiously bullish outlook for AUD/JPY, with momentum intact but limited by potential JPY intervention risk.