AUSSIE-YEN: AUD/JPY last deals at Y78.32, barely.....>

AUSSIE-YEN: AUD/JPY last deals at Y78.32, barely changed on the day. The pair

has dropped to its session low of Y78.18 after the Nikkei 225 opened on the back

foot, but erased losses thereafter. Worth noting the rate has operated within a

fairly narrow range thus far.

- Japanese data came in mixed, as industrial output and labour mkt numbers

provided some disappointment, while retail sales and Tokyo CPI topped

expectations.

- Initial downside focus falls on the lower 2.0% 10-DMA envelope, situated at

Y77.99. A clean breach of the figure would allow bears to attempt a run at

Y77.00, a level not seen since early January. Conversely, bulls look for a

return above the lower 1.0% 10-DMA envelope at Y78.78 before challenging the

100-DMA at Y78.88, breached on Wednesday.