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AUD/JPY: Holding Above ¥96 handle, RBA On Tap


AUD/JPY firmed back above the ¥96 on Friday and has held above the figure in recent dealing.

  • The pair rose ~0.4% yesterday, as higher US Tsy Yields weighed on the Yen, and last prints at ¥96.50/60.
  • Bulls target a break of the high from 23 June (¥96.85), this opens on year to date highs at ¥97.68.
  • On the downside, support comes in at the 20-Day EMA (¥95.40) and low from 13 June (¥95.05).
  • With today's RBA meeting in view expectations are split between no change in rates and another 25bp hike.
Fig 1: AUD/JPY Daily Spot, EMAs

Source: MNI/Bloomberg

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