AUD/JPY Softens to Near 111.50 on Intervention Fears
The AUD/JPY cross trades lower near 111.50 during early European hours as the Japanese Yen strengthens on intervention fears and bearish technical bias.
AUDJPY
The AUD/JPY pair has softened to around 111.50 during Thursday's early European trading session, reflecting a bearish technical setup and heightened concerns over possible Japanese currency intervention.
The Japanese Yen has gained strength against the Australian Dollar as traders remain wary that Japanese authorities may step in to support the Yen. This sentiment, combined with a negative technical outlook, is weighing on the cross.
Source: FXStreet Forex News