The AUD/JPY currency pair slipped below the 113.50 level during early European trading hours on Thursday, trading around 113.45, according to FX Street.
This downward movement was supported by verbal intervention from Japanese authorities, who aimed to bolster the Japanese yen against the Australian dollar, FX Street reported.
With ongoing volatility in the FX market, Japan’s efforts to stabilize the yen remain an important factor for traders monitoring currency flows between the region and Australia.