AUD/JPY giving up some earlier gains

AUD/JPY rallied from 88.00 to 88.50 after the Chinese PMI data but has now given back half of those gains on some Friday evening profit taking out of Tokyo. Not quite sure what to think of this pair, AUD/USD still looks quite bullish to me after the break and hold above 1.0510 so I guess much will depend on what happens to USD/JPY at 84.00/15.

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