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AUSSIE-YEN: AUD/JPY is benefitting from the modest...>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY is benefitting from the modest uptuick in risk sentiment
apparent at the start of the new trading week, and last deals 15 pips or so
higher ~Y83.60, after having a brief look above the June 14 high (Y83.63).
- Friday's close above Y83.16 added to bullish confidence and sees focus move to
Y84.53-89 where the 200-DMA is located, although daily studies approaching
overbought levels are a key concern for bulls. Initial support is now noted at
the July 10 high (Y82.72) with bears needing a close below to gain breathing
room.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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