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AUD/JPY: Pressure Extends, Below ¥94


Recent pressure on AUD/JPY extended in yesterday's trade, the pair fell ~0.5% and we now sit ~4% below year to date highs in mid-June.

  • The pair now sits below the ¥94 handle and last prints at ¥93.75/85.
  • Bears now target a break of the 38.2% retracement of the Mar-Jun bull leg at ¥93.23. The 200-Day EMA comes in at ¥91.94.
  • On the upside bulls immediate focus is on breaking ¥94, from here they target the 20-Day EMA (¥95.07). The high from 6 July (¥96.31) presents the next resistance level.
  • Crossing shortly we have Japan's June PPI, a 0.2% M/M rise is expected. Further out we have RBA-speak from Governor Lowe.

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