AUD/JPY Price Forecast: Softens Below 112.50, Bias Turns Mildly Bearish

The AUD/JPY cross traded with a negative bias during Tuesday's early European session, slipping to approximately 112.20. The pair softened below the 112.50 level as the Japanese Yen (JPY) gained ground against the Australian Dollar (AUD).

Market participants remained alert to the possibility of official intervention to support the Yen, which added upward pressure on the JPY and weighed on the AUD/JPY cross. Technical positioning suggests the short-term bias has turned mildly bearish after the breach below the key 112.50 support.