The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

5 months ago

Version History

Version 25 months ago

What changed: The pair demonstrated intraday resilience by bouncing back from daily lows and is now challenging a more immediate resistance level at 111.70.

Version 15 months ago

What changed: The story was updated to include current trading levels (111.45-111.50) and identify technical support at a key EMA, confirming the persistent bullish sentiment.

ForexMediumUpdated×2•Originally published 3 March 2026•Updated 4 March 2026•

1 min read

AUD/JPY Rebounds from Daily Lows as Bulls Target 111.70 Breakout

Key Facts

1RBA Governor Michele Bullock stated that a rate hike at the March meeting is a 'live' possibility.

2AUD/JPY broke through recent highs with a technical target of 113.22.

3Bullock warned markets against assuming a hold on rates, prompting a re-evaluation of expectations.

The AUD/JPY pair successfully rebounded from its daily lows recorded earlier in the session, currently trading around the 111.45-111.50 range with sustained momentum. This intraday resilience follows hawkish commentary from RBA Governor Michele Bullock, who emphasized that a March rate hike remains a distinct possibility. Technically, market participants are now shifting their focus toward the 111.70 level as a critical target for a potential bullish breakout. The overall upward bias remains intact as long as the pair holds above its key Exponential Moving Average (EMA), signaling strong underlying support. Should the pair clear this immediate resistance, the 113.22 level continues to stand as the primary objective for the ongoing rally.

Sources:

actionforex.com

mitrade.com

fxstreet.com