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AUSSIE-YEN: Despite the release of soft China PMI....>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: Despite the release of soft China PMI & AU CPI data, AUDJPY remained
supported overnight after Japan's biggest bank MUFG agreed to buy CBA's global
asset management unit for A$4.13bn ($2.9bn). The deal adds A$213bn of assets
under management across the US, Australia & Asia. AUDJPY consolidates in the
middle of its Y80.08-42 daily range, targeting a break of the Y80.50/55 level
which also holds the 50% retracement of Y82.50-78.56. Above here, and bulls
target the 100-dma at Y81.23, ahead of downtrend resistance off the July highs
at Y81.85. Last Y80.26.

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