The AUD/JPY currency pair has extended its bullish momentum, holding firmly above the 113.00 level, as a combination of hawkish Reserve Bank of Australia (RBA) rhetoric and stronger-than-expected Chinese trade data propels the Australian dollar higher. This surge in a key risk-sensitive pair is catching the attention of crypto traders, as it may signal a broader shift toward risk appetite that often benefits digital assets.
Technical indicators confirm the uptrend, with the pair trading comfortably above its 100-day Simple Moving Average (SMA). This moving average has acted as a reliable support, and the latest price action—testing resistance around 113.50–114.00—suggests that a break toward the 115.00 psychological level is possible. The bullish structure remains intact as long as prices stay above the 100-day SMA near 112.80.
Fundamentally, the driver is policy divergence. The RBA has maintained a hawkish bias, signaling that additional rate hikes cannot be ruled out given persistently high inflation. Meanwhile, the Bank of Japan continues its ultra-loose monetary policy, widening the interest rate differential in favor of the Aussie. On top of that, China’s trade surplus unexpectedly rose to $72.7 billion in March, beating forecasts of $68.5 billion, with exports accelerating to 12.4% year-on-year. Because China is Australia’s largest trading partner, the data directly boosts the Australian dollar and reinforces demand for commodity-linked currencies.
This risk-on dynamic is historically correlated with positive crypto market sentiment. When traditional carry trades like AUD/JPY rally, traders often increase exposure to higher-risk assets, including Bitcoin and altcoins. While no specific crypto coin is directly linked to this forex move, the broader market environment could lend support to digital asset prices in the near term. Traders are now watching key Australian employment figures and the BoJ’s policy decision later this month for further clues.
