AUSSIE-YEN: AUD/JPY has caught a modest bid at the...>

AUSSIE-YEN: AUD/JPY has caught a modest bid at the Tokyo equity open, as the

Nikkei 225 kicked off on the front foot and last trades ~0.4% higher. The rate

has added 12 pips so far and last trades at Y75.87. This comes after it closed a

mere 4 pips higher yesterday.

- The pair has consolidated within the Y75.33-Y76.39 region over the last two

weeks. A break above Y76.00 would open up the upper boundary of the

aforementioned range. Above there would expose Y76.59/60, which represents the

21-DMA/23.6% fibo retracement of the move from Y80.72 to Y75.33. Conversely,

bears look to the multi-month low of Y75.33, touched on May 17. A dip below the

figure would bring the Jan 4 low of Y75.24 into play.