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-YEN: Japan Takes Day Off, RBA Steals Spotlight In Australia

AUSSIE

AUD/JPY operates 9 pips shy of neutral levels, last at Y73.83, ahead of the announcement of the RBA's monetary policy decision, which is widely expected to bring further easing. Liquidity is limited by a market holiday in Japan.

  • Bears keep an eye on Oct 29 low of Y73.14, the worst level since Jun. A break below would reaffirm that the recent downtrend is intact and open up the 200-DMA/Jun 22 low, located at Y72.81/74. Conversely, a bounce above Oct 19 & 26 highs, both at Y74.95, would turn focus to the 100-DMA/channel top at Y75.43/48.

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