AUD/JPY Price Forecast: Declines below 110.50 as bearish bias persists below 100-day SMA

The AUD/JPY cross trades in negative territory around 110.35 during the early European session on Monday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) as hawkish language may reinforce expectations that the Bank of Japan (BoJ) will raise interest rates this year.