The AUD/JPY pair shows slight losses around 96.75 at the start of the European session on Friday. The positive outlook for the pair remains intact above the 100-day exponential moving average (EMA), with a short-term bullish surge.

The first bullish target is at 97.20, while the first support level is at 96.56.

The AUD/JPY pair is trading with modest losses near 96.75 at the start of the European session on Friday. The Japanese yen (JPY) is strengthening against the Australian dollar (AUD) after the U.S. president signed an executive order aimed at reducing tariffs on Japanese automobile imports on Thursday. The White House also indicated that Japan is working towards the expedited implementation of a 75% increase in purchases of U.S. rice.

From a technical standpoint, the constructive outlook for the pair remains, with the price holding above the key 100-day exponential moving average on the daily chart. Moreover, the bullish momentum is reinforced by the 14-day relative strength index (RSI), which is above the midpoint, near 59.50. This indicates a short-term bullish surge.

The immediate resistance level for AUD/JPY appears at 97.20, the upper limit of the Bollinger band. A series of green candles and stable trading above this level could pave the way for a progression towards 97.43, the peak of July 15. The next bullish filter to watch is 98.45, the highest of January 27.

Conversely, if the pair attracts sellers and more red candles appear, the price could return to 96.56, the low of September 4. Sustained trading below this level could expose 95.86, the low of August 29. The next support level is at 95.30, the 100-day EMA.