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AUSSIE-YEN: AUD/JPY last seen at Y75.56, a handful...>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY last seen at Y75.56, a handful of pips worse off. The rate
ticked lower in reaction to headlines suggesting that the U.S. will target
currency manipulators with trade duties, but the move was rather limited. The
release of Japanese CPI figures, which matched expectations, was virtually
ignored.
- AUD/JPY fell 31 pips yesterday, as simmering Sino-U.S. tensions dented risk
appetite and pulled each side of the pair in the opposite direction.
- The initial layer of support is provided by the May 17 multi-month low of
Y75.33, followed by the downtrend resistance-turned-support at Y75.16. Bulls
keep an eye on the psychological Y76.00 level.

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