AUD/JPY Slumps as Bearish Bias Holds Below Key Technical Barriers

The AUD/JPY cross has softened to near 111.00 as bearish bias holds below key technical barriers, FXStreet reported on Thursday.

A coordinated currency intervention by the US and Japan provided some support to the Japanese Yen (JPY) against the Australian Dollar (AUD) during early European trading hours that day.

Traders remained on high alert for further intervention from Japanese authorities after Finance Minister Satsuki Katayama said officials would not hesitate to take action on currency.

The Bank of Japan's (BoJ) Minutes showed policymakers debated mounting price risks that likely required more rate hikes, despite raising borrowing costs to a 31-year high in the June policy meeting.