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-YEN: Edges Lower In Tandem With E-Minis

AUSSIE

AUD/JPY has shed 12 pips thus far and last sits at Y76.87, as e-minis have headed lower in early Asia-Pac trade. It has been relatively quiet on the headline and data fronts, with participants awaiting the latest monetary policy decision from U.S. FOMC.

  • Bears look for a drop through the 50-DMA/Sep 9 low at Y76.19/12, which would clear the way to Aug 24 low of Y75.45. On the flip side, a rally above Sep 10 high of Y77.74 would encourage bulls to target Aug 31 high of Y78.46, the best level since the first half of 2019.
  • Japanese trade data hits the wires within a few minutes.

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