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AUD/JPY: Weakest Day Since Early October

AUD

AUD/JPY fell ~1.1% yesterday marking its weakest day since early October. The RBA's neutral hold and firm ISM Services print in the US weighed on the AUD.

  • The pair sits at ¥96.40/45 in early trade today.
  • Bears have breached the 20-Day EMA (¥97.24) and now focus on a break of the ¥96 handle. This opens the ¥95 handle and the 200-Day EMA (¥94.36).
  • Despite yesterday's downtick AUD/JPY remains in an uptrend. Bulls focus on the ¥97 handle and the 20-Day EMA. A break through here opens 16 Nov high (¥98.62) and the ¥100 handle.
  • On the wires this morning we have Q3 GDP from Australia, Y/Y GDP growth is expected to moderate to 1.9% Y/Y from 2.1% Y/Y.

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