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AUSSIE-YEN: AUD/JPY climbed 28 pips overnight and....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY climbed 28 pips overnight and last deals at Y78.20, near the
intraday high of Y78.21, as Aussie drew support from a drop in USD/CNH amid
growing optimism re: the potential for a high level U.S.-China trade summit
later this month. AU retail sales marginally topped exp., but the initial
post-print AUD impetus quickly waned. Meanwhile, JPY struggled as stocks
advanced, with the Nikkei 225 finishing the day ~1% higher. 
- As the pair moved above the Y78.00 figure, the bullish focus shifted to the
nearby 21-DMA at Y78.23. A move through that level would open up Y78.51, where
the rate peaked on the Christmas Eve. Conversely, initial support is located at
yesterday's low of Y77.08 and a break below would provide some downside impetus.

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