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AUD/JPY: Highest Level In 2 Weeks


AUD/JPY firmed to its highest level since 15 August yesterday, clearing the ¥94 handle and the 20-Day EMA (¥94.06).

  • The pair is a touch below opening levels in early dealing, last printing at ¥94.45/50.
  • On the upside bulls first target the high from 10 Aug (¥94.94), a break through here opens the high from 26 July (¥95.90) and YTD highs (¥97.68).
  • Bear's immediate focus is on the 20-Day EMA. A break through here opens the 200-Day EMA (¥92.64) and the post BOJ low from July (¥91.80).
  • July CPI from Australia is on the wires in ~2.5 hours and provides the next risk event for the pair, a downtick in inflation to 5.2% Y/Y from 5.4% is expected.

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