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 has recovered from a break below the ¥88 handle this morning to print at 88.30/40. The better AU jobs data, combined with the Credit Suisse news (borrowing from SNB) has aided the rebound.
- The cross now sits just above key support level, dips below ¥88 have been supported since AUD/JPY broke through the level late March 2022. Closes below this level have attracted buying interest capping falls.
- Still, over the longer time frame the cross has broken out of a bull channel that has been evident since the depths of the covid crisis, see the chart below.
- A close below ¥88 is crucial for bears, from there they can target ¥85 handle. Bulls look to first break the 20-Day EMA (¥90.38) to turn the tide.
Fig 1: AUD/JPY Breaking Out Of Longer Term Bull Channel
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok