A high pressure rotary nozzle having a rotating shaft operating within a fixed housing wherein the of axial force which acts upon the shaft due to the fluid pressure at the shaft inlet is balanced by allowing passage of a small amount of the pressurized fluid to be bled to an area or chamber between the outside of the opposite end of the shaft and the inside of the housing where the fluid pressure can act axially in an opposing direction upon the shaft to balance the axial inlet force. The balance of axial forces is self-regulating by controlling escape of the fluid through a tapered or frusto-conical region between the shaft and housing. This further provides a fluid bearing between the two surfaces and allows use of interchangeable rotating jet heads having jet orifices which can be oriented in virtually any desirable configuration including axially forward of the nozzle.