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AUSSIE-YEN: AUD/JPY last trades at Y79.15, 5 pips....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY last trades at Y79.15, 5 pips lower on the day, as major
regional equity indices have drifted off of highs.
- A spike to intraday reaction high of Y79.27 was noted upon the release of
strong Australian building approvals data.
- Worth noting Japanese Econ Min Motegi said that trade talks with the U.S. will
get underway this month.
- Since the recovery from the Jan 3 flash crash, the pair has stuck to a range
spanning between the Feb 8 low of Y77.44 and the Feb 5 high of Y79.85. A lift
through the 100-DMA at Y79.38 would open up the upper end of the recent range.
Meanwhile, bears look for a slide through the 50-DMA at Y78.76, situated just
below yesterday's worst levels.
- As a reminder the RBA MonPol decision comes out at the bottom of the hour. For
our comprehensive preview visit https://emedia.marketnews.com/MNIRBAApr2019.pdf.
Australian FY2019/20 federal budget will follow later today.

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