AUSSIE-YEN: AUD/JPY dipped into the London morning...>

AUSSIE-YEN: AUD/JPY dipped into the London morning on Tuesday, as Australian

state of Victoria imposed partial lockdown across Melbourne, but then swung back

to gains into the WMR fix amid month-end & quarter-end flows. That upswing

allowed the rate to clear resistance from Jun 23 high of Y74.42.

- The rate last sits at Y74.53, marginally higher on the day. Bulls look for a

jump above Jun 16 high of Y75.09 before targeting Jun 10 high of Y75.61. Bears

look for a fall through Jun 22 low of Y72.74, towards Jun 12 low of Y72.53.

- Worth flagging a piece from the AFR, which cited Treasurer Frydenberg as

noting that the open banking regime which takes effect today will entail lower

prices, more choice and greater competition.

- In Australia, AiG M'fing PMI improved to 51.5 from 41.6 in Jun, while final

CBA M'fing PMI was revised to 51.2 from 49.8. Australia's building approvals, as

well as Japan's Tankan Survey & final Markit M'fing PMI are due later today.