AUD/JPY RISES ABOVE 90.50 FOLLOWING DISAPPOINTING JAPAN'S EXPORT DATA

AUD/JPY RISES ABOVE 90.50 FOLLOWING DISAPPOINTING JAPAN'S EXPORT DATA

The AUD/JPY currency pair has recovered from its recent losses, trading near 90.70 during Thursday's European session.

This rebound is attributed to the weakening of the Japanese Yen (JPY), following disappointing export data from Japan for March.

Japan's exports in March showed a decline, missing market expectations.

This underperformance in export figures has contributed to the depreciation of the Japanese Yen against the Australian Dollar.

The market is closely monitoring the Bank of Japan's (BoJ) stance on monetary policy, especially in light of the recent economic data.

Any indications of policy adjustments could further influence the AUD/JPY exchange rate.

The Australian Dollar is receiving support from domestic economic factors, including positive economic indicators and expectations of a hawkish stance from the Reserve Bank of Australia (RBA).

These factors contribute to the AUD's strength against the JPY.

Technical analysis indicates that the AUD/JPY pair may have further upside potential, with key resistance levels to watch in the near term.

Traders are advised to monitor these levels for potential breakout opportunities.