The AUD/JPY cross is trading lower near 112.35 during Thursday’s early European session as bearish momentum continues beneath the 100-day simple moving average. The Japanese Yen is strengthening against the Australian Dollar amid heightened market vigilance over potential intervention by Japanese authorities. The pair has softened below the 112.50 level, reinforcing the near-term bearish bias that has taken hold in recent sessions.
Traders working with AUD/JPY positions should remain alert as intervention risk from Japanese officials is elevating the Yen across major pairs. This move below key technical support at 112.50 suggests continued downside pressure may be ahead, particularly while the cross remains beneath its 100-day moving average. Currency brokers and forex desks should monitor for any official statements from Japanese monetary authorities that could trigger additional volatility.
FXnCO Insight
Forex traders should consider tightening stop losses on long AUD/JPY positions and watch for further breakdown below 112.35, which could accelerate selling pressure toward the next support zone.
Source: FXStreet