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AUSSIE-YEN: AUD/JPY struggled for a clear............>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY struggled for a clear direction yesterday. It staged an
attack at resistance from Apr 30 high of Y70.17 towards the end of the Asia-Pac
session, but failed to make headway beyond there and pulled back into Europe.
That slide was followed by a recoil, which allowed the rate to finish the day in
positive territory.
- AUD/JPY last sits at Y69.79, 8 pips worse off. A dip through May 7 low/50-DMA
at Y67.63/57 is needed to lend some support to the bearish case and draw
attention to Apr 21 low of Y67.29. Conversely, bulls look for a rally above Apr
30/May 11 highs of Y70.17/18, which would bring Mar 3 high of Y71.52 into view.
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