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AUSSIE-YEN: AUD/JPY plunged onto its 100-DMA,........>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY plunged onto its 100-DMA, which intersects at JPY70.48, but
has ticked away from there and currently sits at Y70.61, 33 pips worse off.
Tensions between the U.S. and China have taken focus amid continued mutual
sabre-rattling, while concerns over Australia's relations with Beijing have
applied additional pressure to the Aussie. As flagged earlier, the AFR ran an
old story re: changes to China's inspection procedures for imports of iron,
Australia's key export commodity (some more colour can be found in previous
bullets). 
- RBA Governor Lowe takes part in a panel discussion as we type.
- A clean break below the 100-DMA at Y70.48 is needed to shift focus to May 14
low of Y68.55. Further losses would open up the 50-DMA/May 7 low at Y67.73/63.
Conversely, bulls look for a rebound above May 20 high of Y71.03, towards Mar 3
high of Y71.52.

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