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YEN: YtD Highs In Sight

AUSSIE

AUD/JPY has picked up a bid amid some very light light risk-on flows seen across G10 FX space (as e-minis have inched higher) coupled with broader AUD strength, likely linked to a rally in AUD/NZD. AUD/JPY, a popular risk barometer, last sits +15 pips at Y76.60.

  • A break above Aug 12 high of Y76.72 would open up the YtD high of Y76.87, printed on Jul 22. Bears keep an eye on Aug 10 low of Y75.69 and a break here would expose Jul 30 low of Y74.83.
  • Japanese GDP contracted more than expected, according to preliminary data for Q2. Focus turns to final Japanese industrial output, while the Australian docket is empty today.

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