AUD/JPY Price Forecast: Gains ground to near 111.00, but retains a bearish bias below 100-day SMA

The AUD/JPY cross trades in positive territory around 110.90 during the early European session on Thursday. Elevated energy prices due to the ongoing conflict in the Middle East weigh on the Japanese Yen (JPY) against the Australian Dollar (AUD) as Japan is an oil-dependent economy.