AUSSIE-YEN: AUD/JPY sits 8 pips higher at typing,....>

AUSSIE-YEN: AUD/JPY sits 8 pips higher at typing, last at Y75.69.

- The rate slid in early Asia-Pac trade yesterday, touching an intraday low of

Y75.10 in reaction to a disappointing Australian retail sales print. Subsequent

recovery was followed by a short-lived knee-jerk higher on the back of the

latest RBA MonPol decision, which saw the cash rate cut by 25bps. With the cut

already priced in, focus turned to the fact that the RBA failed to commit to

further cuts. A later speech from RBA Gov Lowe inspired some volatility, as Lowe

noted that "it is not unreasonable to exp. a lower cash rate," but had no

lasting impact. Improving risk appetite drove AUD/JPY higher through the rest of

the day, allowing it to finish 21 pips better off.

- Bulls look to Y75.70, which continues to cap gains after providing a layer of

resistance yesterday. A breach of the level would open the 21-DMA at Y75.91,

ahead of the Y76.00 mark. Bears eye Y74.97/95, which represents the Jun 3

multi-month low/ lower 1.0% 10-DMA envelope.

- The immediate focus falls on Australian GDP, due at 0230BST/1130AEST.