Free Trial
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 sits lower on the session and found little support at the 50-dma of 89.97 - nonetheless, prices have slowed and found support on the approach to the uptrendline drawn off the mid-March low of 86.06. The level intersects at 89.44.
- Move was initially triggered by Biden's move to curb investment flows headed for China, an approach that knocked the CSI 300 by around 2% on the day, with chipmakers and tech-oriented firms leading the way lower - firming the sentiment-driven nature of the cross.
- A break below the uptrendline exposes 88.98 initially, the 38.2% retracement for the Mar - Apr upleg, but for now, momentum remains pointed higher. 90.78 is the key trigger, opening 92.35 further out.
Figure 1: AUD/JPY Uptrendline support holds for now
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok