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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FOREX
The recent hawkish repricing surrounding the RBA vs. a lack of movement from the BoJ, coupled with increased expectations surrounding a Chinese stimulus package and the bid in equities, has allowed AUD/JPY to move higher, breaking several key resistance levels in recent weeks. Developments surrounding these factors (particularly the degree of meaningful Chinese stimulus delivered) will likely be the key drivers for the pair in the coming weeks.
- Bulls have forced a look above the 15 September ’22 high (Y97.13) in recent trade, although the move didn’t push on much further after a session high of Y97.18 was printed, as the cross last deals at Y97.15.
- A break above that area would allow bulls to focus on the ’22 high, located at Y98.60. The 50-DMA has crossed above the 100-DMA in recent days but hasn’t managed to better the 200-DMA as of yet.
Fig. 1: AUD/JPY
Source: MNI Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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