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AUD/JPY consolidating a bit after first stage of corrective bounce; upside target 90.12

FXstreet.com (Barcelona) – The AUD/JPY – the nouveau global risk proxy – continued its bounce off of its short-term downside support at 86.39 Thursday as it topped out at near 88 at 02:00 GMT and has been consolidating / correcting since.

Data mixed from Japan and Aussie data a non-event

Japanese inflation data hinted at the idea that deflation may no longer be an issue for them, but industrial production numbers came in on the disappointing side – taking away any optimism that had percolated from the inflation data. Later in the session, Australian credit levels came out and had …read more