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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.
AUD
AUD/JPY is now down ~3.3% from post RBA highs on Tuesday, the pair has broken its 20-Day EMA (¥89.67) to last print ¥89.35/45.
- Weakness in US Equities and lower US Treasury Yields have weighed on the pair, losses extended this morning on escalating concerns on the regional US banks and the White House CEA released a report outlining various economic scenarios for the debt ceiling/potential default.
- Bears now target a break of ¥88 handle which has provided support since AUD/JPY broke above it in late March. From here they can target year to date lows at ¥86.06.
- Bulls first look to break above the 200-Day EMA (¥90.79) to turn the tide.
Fig1: AUD/JPY vs ES1
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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