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AUSSIE-YEN: AUD/JPY has shed 8 pips and last deals...>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY has shed 8 pips and last deals at Y78.20, as JPY draws
support from the underperforming Nikkei 225, which trades 1.1% lower at writing.
The yen has seemingly shrugged off the release of final Japanese Q4 GDP, which
saw growth being revised higher both on a quarterly and annualised basis;
topping exp. Japanese c/a balance and narrower than exp. trade deficit also came
and went, with no notable market reaction.
- Initial support noted at Y78.10, where the rate bottomed on Feb 15, ahead of
the Feb 7/11 low of Y77.75/73. On the topside, initial focus falls on the lower
1.0% 10-DMA envelope at Y78.23 and a clean break above would bring the 50-DMA at
Y78.40 into play.

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