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-YEN: Looking Higher, Awaiting Catalysts

AUSSIE

AUD/JPY has consolidated after Thursday's recovery seen over the second half of the day. The pair sits at Y76.63, marginally above neutral levels, as participants await fresh risk catalysts. Equity markets have offered little impetus, as e-minis oscillate around unchanged levels.

  • A move through Sep 10 high of Y77.74 would encourage bulls to set their sights on Aug 31 high of Y78.46. Meanwhile, the 50-DMA at Y76.27 provides the initial bearish target, after the rate failed to establish itself below there yesterday and moved away from worst levels. A break below there and yesterday's low of Y76.11 would expose Aug 24 low of Y75.45, a key near-term support.
  • Japanese CPI figures deteriorated in August, but in line with expectations, keeping JPY unfazed.
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