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Free AccessAUSSIE-YEN: AUD/JPY last sits at Y77.92, virtually...>
AUSSIE-YEN: AUD/JPY last sits at Y77.92, virtually unchanged on the day.
Yesterday, the pair closed 36 pips higher, despite an initial drop on the back
of risk-off flows triggered by lack of any major breakthrough re: Sino-U.S.
trade relations, as well as broader yen strength induced by a USD/JPY post-fix
selloff. AUD recovery occurred as CNH crosses broke lower.
- Worth mentioning the Nikkei 225 opened on the front foot.
- Initial support is located at yesterday's low of Y77.08 and a break below
would provide some downside impetus. Meanwhile, bulls look for a jump above the
Y78.00 figure, where the rate peaked yesterday, which would shift their focus to
the 21-DMA at Y78.22.
To read the full story
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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.