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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.
AUD
AUD/JPY rose 0.5% as higher US Treasury Yields weighed on the Yen. The pair sits above ¥92 handle, last printing at ¥92.20/30.
- Since falling below ¥92 in the wake of the December BoJ meeting the cross has been unable to sustain rallies above the handle with a ¥88/92 range persisting for most of 2023.
- Technically the trend is bullish, the 20-Day EMA has crossed the 200-Day EMA signalling more potential upside. Bulls look to sustain the current price action targeting the high 2 May at ¥92.44, this opens ¥93.04 the high from 15 Feb.
- Bears first target a break below the 200-Day EMA (¥90.84), with ¥89.16 the low from May 4 providing the next support level.
Fig 1: AUD/JPY Daily Spot, EMAs
Source: MNI/Bloomberg
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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