AUSSIE-YEN: AUD/JPY has shed 9 pips thus far and.....>

AUSSIE-YEN: AUD/JPY has shed 9 pips thus far and deals at Y75.68 with some fresh

demand for the yen noted over the last half an hour or so. This occurs after the

rate finished 10 pips better of on Friday.

- The pair has fluctuated around the 50% retracement of its YtD range at Y75.68

through the bulk of July. A clean downside breach of the level would bring the

50-DMA at Y75.57 into play, with the 21-DMA at Y75.23 providing the next layer

of support below. Conversely, bulls look for a return above the mid-point of the

YtD range before challenging the Y75.89-93, which registered a series of highs

this month. Above opens the psychological Y76.00 barrier.

- Japanese markets are shut for a public holiday today, while Australian focus

falls on Chinese Q2 GDP and June economic indicators.