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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
Falling commodity prices, Bloomberg commodity index was down ~1.5% and Iron Ore is back below $100/tonne, weighed on AUD/JPY yesterday.
- The pair fell below its 20- and 200-Day EMA, support came in below ¥90 handle and losses were marginally pared. We currently sit in a narrow range between ¥90 and the 20-Day EMA (¥90.22).
- For the most part AUD/JPY has observed a ¥88/92 range in 2023 with the pair unable to sustain breaks of either handle.
- Bears target the low from May 4 ¥89.16 opening up a break of the ¥88 handle.
- Bulls immediate attention is on the 20-Day EMA (¥90.22), opening the high from 2 May at ¥92.44.
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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