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AUSSIE-YEN: AUD/JPY comfortably breached the 2016....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY comfortably breached the 2016 low of Y72.53 during the flash
crash, bottoming at Y70.64, hitting levels not witnessed since 2009, before s
sharp retracement ensued. Rate last deals 195 pips or so lower around Y74.10.
JPY cross moves likely exacerbated by low liquidity window when the move took
place and Tokyo being on holiday.
- Broader risk backdrop obviously key, but short-term narratives blown apart by
the sharp moves. Bears look for a move back below the 2016 low, while bulls look
to recover the December 2018 low of Y77.15.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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