AUSSIE-YEN: AUD/JPY attacked the psychological.......>

AUSSIE-YEN: AUD/JPY attacked the psychological Y68.00 barrier in yesterday's

Asia-Pac hours, but recovered later in the day. The rate last sits a touch lower

at Y68.55, oscillating around unchanged levels from the off. The Y68.00 mark

remains the initial bearish target, with a breach of the level opening the

50-DMA at Y67.77. Further losses would bring Apr 21 low of Y67.29 into view.

Conversely, bulls need a clearance of Apr 30 high of Y70.17 to reinstate topside

impetus.

- With Japan (and China) off for holidays today, the focus turns to a monetary

policy decision from the RBA. We have published our usual comprehensive preview,

which can be found in an earlier RBA bullet.

- We've seen some Australian data this morning. AiG Performance of Construction

Index showed further deterioration, printing at 21.6 vs. the prior 37.9. Final

CBA Services & Composite PMIs were revised a touch lower. Weekly consumer

confidence gauge from ANZ ticked higher to 89.5 from 85.0, with the commentary

calling the rebound "encouraging".