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JPY: Edging Higher

AUD

Risk barometer AUD/JPY has moved away from yesterday's low of Y84.60, printed after a whole day of losses driven by continued risk aversion. The rate has inched higher in tandem with e-minis and last trades at Y85.81, 7 pips better off. The move has been rather limited, but all G10 crosses have held tight ranges so far.

  • Japan's BoP current account surplus shrank more than expected in March, to Y2,6501tn from Y2.9169tn recorded in February.
  • Data-wise, focus moves to Australia's inflation expectations, due later today.
  • A break above May 10 cycle high of Y85.80 would reaffirm that the broader bullish impetus is intact. Conversely, a dip through the 50-DMA at Y84.09 would open up May 4 low of Y83.93.

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