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Forex: AUD/JPY lowest in 2 weeks, holds above 97.50

FXstreet.com (Barcelona) - AUD/JPY is currently around 97.64, off fresh session lows at 97.53, lowest since March 17. The cross is down -0.59% for the session mostly on the back of Yen strength, in the first trading day of the fiscal year in Japan, ahead of another day with closed markets in Europe due to Eastern holiday.

Following soft Tankan survey data in Japan and disappointing PMI's data from China, AUD/USD has printed session lows at 1.0385 from previous weekly close Friday at 1.0419 with no upside from there for the session so far, while USD/JPY has retraced from session highs at 94.38 to fresh session lows at 93.82 while Nikkei index is down around -1%.

Immediate support to the downside for AUD/JPY lies at March 17 lows 97.32, followed by Feb 20 highs at 97.08, and Feb 19 lows at 96.50. To the upside, closest resistance shows at March 11 lows 97.88, followed by March 19mlows at 98.12, and March 22 lows at 98.27.

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