AUD/JPY Price Forecast: Sticks to gains above 112.00 as bulls await 50% Fibo. breakout

The AUD/JPY currency cross advanced for the seventh consecutive session on Tuesday, rebounding from an Asian session low of 111.80 to trade around the 112.15–112.20 zone, up approximately 0.15% on the day. The pair continues to draw upward momentum from divergent monetary policy expectations: the Japanese Yen remains broadly pressured following the Bank of Japan's dovish policy stance, while the Australian Dollar finds solid support in hawkish commentary from Reserve Bank of Australia Governor Michele Bullock. From a technical perspective, the pair trades slightly above its 100-day Exponential Moving Average at 112.16, with the MACD turning positive and the RSI hovering around 52, signaling modest recovery momentum. However, upside progression remains capped by a dense Fibonacci retracement cluster, with immediate resistance located at 112.34 (50% retracement) and 112.96 (61.8% retracement), ahead of 113.85 and cycle highs near 114.99. Potential Japanese currency intervention risks also prompt caution among bullish traders, while key downside support levels are seen at 111.71 (38.2% Fibonacci) and 110.94.