2026-10-24 Readings lean neutral
AUD/JPY stabilizes near 110.372 as traders await Bank of Japan policy decision
The Australian dollar is showing slight strength against the Japanese yen today. The pair is trading around 110.372 after a volatile session that exceeded its average daily range. Market participants are balancing Australian inflation concerns with upcoming Bank of Japan policy updates.
Trend and momentum
The 4-hour trend is currently ranging, while the 1-hour structure points up. Momentum is largely neutral, with the 4-hour RSI at 49.49 and the 1-hour RSI slightly higher at 56.17. Price action remains inside the 1-hour Bollinger Bands without a squeeze, but volatility has been high, consuming 116 percent of the average daily range today.
Key levels
Key resistance sits at yesterday's high of 111.312, which aligns closely with last week's high of 111.134. A break above these levels could signal renewed upward momentum. On the downside, support is found at today's low of 109.492 and yesterday's low of 109.678, while a deeper drop below last week's low of 108.636 would indicate a stronger bearish shift.
News and events this week
The Bank of Japan will announce its monetary policy decision on October 30, following recent data showing Japanese core CPI rising to 2.1 percent. While no rate change is expected this week, traders will look for clues regarding a potential December hike. For the Australian dollar, markets are digesting recent comments from the RBA warning of a worse inflation outlook ahead of their November meeting.
What would push it higher
If the pair breaks above the 111.312 resistance, buyers may take control of the near-term trend. This could happen if Australian inflation data forces the RBA into a more hawkish stance.
What would push it lower
If price falls below the 109.492 support, sellers could push the market lower. A hawkish tone from the Bank of Japan on October 30 would likely drive yen strength and weigh on the pair.
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