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AUSSIE-YEN: AUD/JPY has added 11 pips so far and.....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY has added 11 pips so far and trades at Y74.85. The rate
posted a ~30 pip leg higher in reaction to an FT headline, which stated that the
White House considers removing some of the tariffs on China. The rate eased off
as the actual piece proved to contain more guarded overtones than the headline
would suggest, but it has picked up since.
- Bulls look for a clean breach of yesterday's peak at Y75.01 before taking aim
at the Oct 31 high/YtD mid-point at Y75.30/34. A push above there would expose
the nearby channel resistance, which comes in at Y75.46. Conversely, a retreat
under Y74.32, the low of Oct 31, would encourage bears to target the Oct 24
trough at Y73.93.
- The focus remains on the upcoming monetary policy decision from the RBA, with
the announcement scheduled for 0330GMT/1430AEDT. As a reminder, we have
published our RBA preview, which can be accessed at http://tiny.cc/RBANov.

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