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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 ~1.1% on Monday; firmer risk appetite, commodity prices and US Treasury Yields saw the pair rise above the ¥91 handle.
- The ¥90 handle provided support late last week before yesterday's impressive rally. We now sit above the 20- and 200-Day EMAs, however for the most part AUD/JPY has observed a ¥88/92 range in 2023 with the pair unable to sustain breaks of either handle.
- Bulls first target the high from 2 May at ¥92.44, a break through here opens ¥93.04 high from Feb 15.
- Bears immediate focus is on ¥90.78 (200-Day EMA), with the 20-Day EMA (¥90.39) providing the next support level.
- On the wires today we have the RBA Minutes of the May Policy meeting when the RBA unexpectedly raised the cash rates 25 bps.
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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