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AUD/JPY: See-sawing Around 20-Day EMA, BoJ On Tap

AUD

AUD/JPY continues to see-saw around the 20-Day EMA (¥94.97), the ¥94/96 range which has persisted for the most part since early September remains intact.

  • On Monday we sit a touch above opening levels ¥94.96/95.00.
  • The uptrend remains in place, bulls now target the high from 25 Oct (¥95.89). A break through here opens high from 30 Sep (¥96.92) and ¥98.13 a Fibonacci projection.
  • On the downside bears target the low from 13 Oct (¥94.05) and the 200-Day EMA (¥93.59). A break through here opens ¥91.80, Jul 28 low, and ¥90.26, May 31 low.
  • Due today is the latest monetary policy decision from the BoJ. ICYMI Nikkei reported yesterday that the BOJ will consider tweaking the yield curve control framework at today’s policy meeting.
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