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AUSSIE-YEN: AUD/JPY has dropped 24 pips and last.....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY has dropped 24 pips and last trades at Y77.60, hovering just
a handful of pips above worst levels.
- The rate initially climbed to intraday highs of Y77.99, as JPY came under some
modest pressure after Special Counsel Mueller's report failed to find any
evidence of Trump campaign collusion with Russia re: the 2016 election, although
the report also failed to exonerate Trump from obstruction of justice.
- However, AUD/JPY pulled back sharply on the back of a heavy start for Japanese
equities, with the Nikkei 225 last seen ~3.1% lower.
- Initial support noted at the Feb 8/Jan 9 low of Y77.44/40. Below here opens
Y77.03, where the rate bottomed on Jan 7. Meanwhile, bulls look for a recovery
towards Y77.89, which represents the lower 1.0% 10-DMA envelope.
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