• AUD/JPY trades with a mild positive bias on Friday, albeit it lacks follow-through buying.
• A positive risk tone undermines the safe-haven JPY and benefits the risk-sensitive Aussie.
• China’s economic woes and BoJ rate hike bets should keep a lid on any meaningful upside.

The AUD/JPY pair attracts some buyers during the Asian session on Friday and looks to build on the previous day's goodish rebound from the 99.20 area, or its lowest level since April 22. Spot prices currently trade around the 100.75 area, up just over 0.10% for the day, and for now, seem to have snapped a five-day losing streak, though any meaningful appreciating move still seems elusive. 

The better-than-expected US macro data released on Thursday pointed to a still resilient economy and infused some stability in the financial markets. This is evident from a generally positive tone around the equity markets, which undermines demand for the traditional safe-haven Japanese Yen (JPY) and benefits the perceived riskier Australian Dollar (AUD). That said, hawkish Bank of Japan (BoJ) expectations hold back traders from placing aggressive bearish bets around the JPY and act as a headwind for the AUD/JPY pair.