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AUD/JPY in range mode ahead of NFP

FXStreet (Bali) - AUD/JPY continues to chop around directionless ahead of the US NFP, likely to inject fresh order flow to potentially see a resolution of the current 96.00-95.00 day range, established for the past 5-6 days.

Looking at upcoming flows impacting AUD/JPY, we see the AUD/USD trying to set a temporary bottom around 0.8660-70, although major clusters of offers are still being reported above 0.88, then again at 0.8865 up to 0.89. Meanwhile, USD/JPY is starting to shift risks to the downside, after the 108.30-50 zone was absorbed overnight. If selling pressure increases, looks like there is some significant downside scope for bears until 107.40-106.75 demand area.

USD/JPY clears descending resistance line

USD/JPY is trading at 108.69, up 0.26% on the day, having posted a daily high at 108.75 and low at 108.35.
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AUD/NZD breaking up to test offers in mid 1.11’s

AUD/NZD is trading at 1.1160, up 0.17% on the day, having posted a daily high at 1.1166 and low at 1.1122.
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