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AUSSIE-YEN: AUD/JPY ticked lower on the back of......>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY ticked lower on the back of weaker than expected
construction work data out of Australia, but has retraced the move since. This
came after the pair declined into the Tokyo fix, weighed on by modest risk-off
flows inspired by a NYT report suggesting that the U.S. administration is
weighing blacklisting China's Hikvision, as well as the fact that the APRA is
"considering applying additional capital requirements to several regulated
financial institutions."
- The rate finished a mere 4 pips higher yesterday after round tripping from its
intraday low of Y75.62. Dovish RBA rhetoric dragged the pair lower in Asia-Pac
hours, before a recovery in risk appetite triggered an upswing.
- AUD/JPY last trades at Y76.09, 3 pips better off. A dip below Y76.00 would
open up the 50% fibo retracement of the year's range/yesterday's low at
Y75.68/62. Bulls need to clear the Y76.36-39 region, which capped gains on May
14 & May 20, before challenging Y76.60, which represents the 23.6% fibo
retracement of the move from Y80.72 to Y75.33.

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