AUSSIE-YEN: AUD/JPY has lost altitude as.............>

AUSSIE-YEN: AUD/JPY has lost altitude as participants ponder yesterday's RTRS

story, which added some false notes to the "mood music" surrounding U.S.-China

trade talks. The piece cited a U.S. official as saying that the Trump-Xi summit

to sign a bilateral "phase one" trade pact may be delayed until Dec, while there

still is a possibility that an agreement won't be reached, albeit the deal is

more likely than not. A wider than expected Australian trade surplus, released

~10 minutes ago, inspired a modest knee-jerk higher in AUD/JPY, but the move has

been very short-lived.

- The rate last sits at Y74.88, 14 pips lower on the day. It has sunk under its

trendline support drawn off the Oct 10 low, which prompts bears to target the

Sep 13 high of Y74.50. Below opens the Oct 31 trough at Y74.32. Conversely,

bulls need to retake the Y75.00 figure before setting their sights on the YtD

mid-point at Y75.34.