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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 has held above its 200-Day EMA after breaking above the measure in Friday's trading.
- Stronger commodity prices, Bloomberg Commodity Index rose ~0.7%, saw the pair firm ~0.6% on Monday and we now sit at ¥91.55/65.
- 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 look to break ¥92, opening up the high from Feb 15 (¥93.04) from here they can target 61.8% retracement of the Sep to Mar bear leg at ¥93.81.
- Bears first target the 200-Day EMA (¥90.79), the next support comes in at ¥89.16 the low from May 4 ¥89.16.
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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