The AUD/JPY cross loses momentum to around 114.45 during the early European trading hours on Wednesday. Verbal intervention from Japanese authorities provides some support to the Japanese Yen (JPY) and acts as a headwind for the cross.
AUD/JPY extends its losses for the third successive day, trading around 113.20 during the Asian hours on Monday. The technical analysis of the daily chart suggests a potential busted pattern or bearish failure as the currency cross is positioned on the lower trendline of an ascending triangle.
The AUD/JPY cross gains ground to near 114.25 during the early European session on Thursday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) as Australia’s Consumer Price Index (CPI) inflation surged in March, as war in the Middle East drove up energy costs.