Free Trial

AUSSIE-YEN: AUD has been relatively resilient over...>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD has been relatively resilient over the last 24 hours or so, as
risk assets recovered to a degree, with a lack of immediate escalation in the
U.S.-China trade war after the U.S. outlined the latest round of tariffs to be
imposed on China earlier this week, which has helped the cause, and also
weighing on the JPY.
- The pair's close above Y83.16 adds to bullish confidence and sees focus now
move onto Y84.51-89 where the 200-DMA is located. Daily studies approaching
overbought levels are a key concern for bulls, with the June 14 high (Y83.63)
providing immediate resistance. Initial support is now noted at the July 10 high
(Y82.72).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.