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AUSSIE-YEN: AUD/JPY has added 40 pips and changes....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY has added 40 pips and changes hands at Y68.68 at typing, off
an earlier high of Y68.95. The rate has been pushed higher by the mood music,
defined by an optimistic reception of a STAT article, pointing to positive
anecdotal data about the administration of an experimental drug for Covid-19 in
Chicago. Some are pointing to U.S. President Trump's plan to re-open the economy
as supporting risk appetite, but the bulk of it was leaked Thursday, so the
aforementioned report seems to be the main driver.
- The rate tested 50-DMA at Y68.95 to the topside, but rejected it for now. A
break here is needed to open up Apr 14 high of Y69.27, the key near-term
resistance. Bears look for a fall below Mar 25 high of Y67.71, a former breakout
level. Below there would shift the focus to Y67.59/58, the lows of
Thursday/Wednesday.
- Japan reports final industrial output today, but the main focus falls on
China's quarterly GDP & monthly activity indicators.
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