AUD/JPY softens below 112.50 as bearish bias persists
AUD/JPY is trading near 112.35 in early European trade and remains below 112.50, with the near-term bearish bias intact under the 100-day SMA.
AUDJPY
The Australian dollar remains on the back foot against the yen, with AUD/JPY trading near 112.35 during early European hours on Thursday. The pair is holding below the 112.50 level, keeping the near-term bearish bias intact while it stays under the 100-day simple moving average.
The Japanese yen has edged higher as market participants stay alert to the possibility of further official intervention. That caution has added pressure to the cross.
Technical bias remains tilted lower while AUD/JPY is below the 100-day SMA, with 112.50 acting as a nearby reference level.
Source: FXStreet Forex News