AUSSIE-YEN: AUD/JPY has taken out the................>

AUSSIE-YEN: AUD/JPY has taken out the psychological Y70.00 barrier and last

trades at Y69.96, 25 pips lower on the day. Participants resumed their hunt for

safe haven assets in reaction to mounting coronavirus worry, as the NYT reported

that >2.7k New Yorkers are under quarantine & Maryland declared a state of

emergency. Separately, selling pressure hit AUD as Australia released a

disappointing retail sales print, which the ABS linked to "a range of impacts"

of bushfires "across a variety of industries."

- Bears would be pleased by a deeper decline, with the lower 2.0% Bollinger band

at Y69.62 providing the initial target. Should it give way, the recent cycle low

of Y69.33 would return into play. Bulls look for a jump above Y71.03, the 23.6%

retracement of the Dec 27 - Mar 2 sell-off.