Australia’s June employment change surged to 76.3K, beating forecasts and supporting the AUD against the JPY.
The AUD/JPY pair traded near 114.25 in early European trading, bolstered by stronger-than-expected Australian employment data. June’s employment change rose to 76.3K, up from a revised 44K in May and well above the 15K forecast, while the unemployment rate held steady at 4.4%.
The data matched market expectations for unemployment but exceeded job growth projections, reinforcing the Australian Dollar’s resilience. However, potential intervention by Japanese authorities to stabilize the JPY could limit further gains in the cross.
Technical indicators suggest a bullish bias, with the pair above its 100-day SMA and RSI at 63, though resistance near 114.70 may slow upward momentum.