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Australian Dollar / Japanese Yen
Long
Updated

Buy AUDJPY Bullish Channel

Factors Potentially Supporting AUD/JPY:

RBA Hawkishness: The recent release of the RBA meeting minutes suggested the central bank remains committed to further rate hikes to combat inflation. This hawkish stance could offer some support to the AUD.

Stronger Global Commodities: Commodities like iron ore, a key Australian export, are seeing some strength today. This could benefit the AUD and potentially limit its decline against the JPY.

Technical bounce: From a technical perspective, the AUD/JPY may be due for a short-term correction after its recent drop. This could lead to a temporary bounce in the pair.
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