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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 has fallen ~2.5% from its pre-RBA levels on Tuesday, and now deals below its 20-Day EMA (¥88.83).
- To recap, RBA held interest rates steady and the accompanying statement had a dovish tone. Pressure extended yesterday as concerns over the US economy weighed on risk assets.
- The cross however does remain well with recent ranges, a ¥86/90 range has been respected for the most part in recent weeks.
- Bears look to target a break below 2023 lows at ¥86.06 this opens up ¥84.42, a Fibonacci projection.
- Bulls look to sustain a break of the 20-Day EMA (¥88.83), from here they can target the 200-Day EMA at ¥91.04.
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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