Strengthens above 111.50, supported by bullish technicals and China data
The post Strengthens above 111.50, supported by bullish technicals and China data appeared on BitcoinEthereumNews.com.
The AUD/JPY cross trades in positive territory around 111.70 during the early European session on Monday. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran, a scenario that typically boosts the demand for safe-haven assets. US President Donald Trump said on Monday that he is talking with other countries about policing the Strait of Hormuz, adding that Israel is collaborating with the US on securing the vital shipping route. Over the weekend, US forces targeted every military site on Kharg Island, a critical Iranian oil export hub. Iran has threatened to retaliate against any US-linked oil facilities in the region. Signs of rising tensions and a prolonged war in the Middle East could lift the JPY and create a headwind for the cross. On the other hand, the stronger-than-expected Chinese economic data could support the China-proxy Aussie, as China is a major trading partner for Australia. China’s Retail Sales rose 2.8% YoY in January-February, compared to 0.9% in the previous reading, the National Bureau of Statistics (NBS) reported on Monday. This figure came in above the consensus of 2.5%. Chinese Industrial Production climbed 6.3% YoY in January-February, versus 5.2% prior, exceeded market expectations of 5.1%. Technical Analysis: In the daily chart, the near-term bias of AUD/JPY is bullish as price holds near recent highs and remains well above the rising 100-day EMA around 106.20, confirming a medium-term uptrend. The latest candles trade close to the upper Bollinger Band near 113.50, showing strong upward pressure but also signalling stretched conditions after the latest acceleration from the mid‑107s. RSI near 58 keeps momentum in positive territory without showing overbought stress, suggesting dips attract buyers while upside progress may moderate after the recent breakout phase. Initial support emerges at 111.00, where minor price congestion aligns with the Bollinger mid-line…
Filed under: News - @ March 16, 2026 6:32 am