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AUSSIE-YEN: AUD/JPY last Y78.17, 26 pips higher on...>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY last Y78.17, 26 pips higher on the day, but off of session
highs at Y78.32, as the yen underperforms all of its G10 peers amidst modest
risk-on flows, with the Nikkei 225 (close to unch. at writing) & U.S. equity
index futures having moved into positive territory. 
- Worth mentioning in December Japanese trade deficit shrunk to Y55.3bn from
Y737.7bn, but the release of the trade data failed to affect the yen crosses.
The export component of the release was particularly disappointing. 
- As the rate jumped above the psychological Y78.00 level, bullish focus turns
to Y78.53, where AUD/JPY peaked yesterday. Conversely, bears look for a fall
below the 21-DMA at Y77.77 before challenging yesterday's low of Y77.74.

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