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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
UD/JPY fell below the 20-Day EMA on Friday, with losses briefly extending below the ¥95 handle after the latest NFP report. The pair pared losses and sits above the ¥95 handle where it has held in early trade on Monday.
- AUD/JPY last prints at ¥95.10/20 and fell ~0.4% on Friday. We sit ~2.6% below year to date highs seen in mid-June.
- Bears now look to break Friday's low (¥94.75), from here they can target ¥94.00 round number support. The 38.2% retracement of the Mar-Jun bull leg comes in at ¥93.23.
- On the upside bulls immediate focus is on the 20-Day EMA (¥95.42), and the high from 5 July ¥96.853.
- The Australian and Japanese dockets are thin today, wider swings in risk sentiment will be the main driver in the pair over the session.
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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