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JPY comfortably sits at the bottom of G10.......>

YEN
YEN: JPY comfortably sits at the bottom of G10 having witnessed a big swing in
overnight trade. Early risk-off was quickly faded after the PBoC announced it
will auction CNH30bn worth of bills and fixed the USDCNY mid-point below
expectations.
- USDJPY rallied +150 pips to Y107.09, but has since given back light gains to
hold Y106.45/50. Resistance is seen through Y107.20/30 from a series of previous
lows, a break opens the 50% retracement of the Aug fall at Y107.42.
- AUDJPY improved off multi-month lows to Y72.71. Technically the cross remains
heavily oversold with an RSI reading of 26. Bulls initial upside focus is on the
Aug 2 high at Y73.16, a break opens the Jun 18 low at Y73.93.

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