AUSSIE-YEN: AUD/JPY has picked up a bid after........>

AUSSIE-YEN: AUD/JPY has picked up a bid after Australian jobs report painted a

relatively upbeat picture of the country's labour market, prompting investors to

trim RBA easing bets. Both unemployment and participation rate edged lower, amid

projections of no change to either metric. Employment only narrowly missed exp.,

was driven by new full-time positions. Underemployment/-utilisation edged lower.

- Labour market data overshadowed a much less inspiring NAB business confidence

survey, with headline index moving into negative territory. An address from RBA

Dep Gov Debelle, warning against imminent deterioration in Australia's

construction activity, was also ignored.

- The pair now trades at Y73.81, 30 pips better off. The 100-DMA at Y73.79

provides support, limiting attempts at a corrective throwback. The next topside

target is the nearby high of Oct 11, located at Y73.96. A move above would bring

the Sep 12 & 13 highs at Y74.50 into view. Meanwhile, bears would be pleased by

a return below the 100-DMA. It would allow them to set their sights on the 23.6%

retracement of the Sep rally/Oct 15 high at Y73.70/69 and, looking further

afield, on the Oct 16 trough at Y73.07.