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AUD/JPY stuck in range until new macro themes develop

FXStreet (Bali) - AUD/JPY is trading at the highs of the week circa 95.65-70 after bouncing off 95.25-30 late last week, and ahead of Australian trade data and RBA later today.

Jim Langlands, Founder at FXCharts, notes: "The cross did little of interest last week and remains pretty much stuck in the middle of the overall 95/96 range of the last couple of months, after allowing for the brief dip and bounce off the Fibo support at 94.35 (61.8% of 93.04/96.50) 3 weeks ago."

"The upside continues hampered by the top of the weekly cloud (95.85) and the momentum indicators give little hint of this being taken out any time soon. The downside will see bids once again at Friday’s 95.29 low and then at 95.15 (100 DMA)",Jim adds.

RBA preview: Widely expected to maintain neutral tone - Westpac

Sean Callow, FX Strategist at Westpac, notes that the RBA is widely expected to maintain a neutral tone in today's policy meeting.
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USD/JPY trading in tight range without events

USD/JPY is trading at 102.58 having posted a daily high at 102.61 and low at 102.50.
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