Free Trial

AUSSIE-YEN: AUD/JPY operates at Y76.01, 14 pips......>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY operates at Y76.01, 14 pips higher on the day and slightly
below its earlier highs. The rate picked up a bid into the Tokyo equity open.
Upbeat rhetoric re: phase-two talks with China from U.S. Vice Pres Pence & Tsy
Sec Mnuchin may have lent some support to the pair. Australian housing finance
data came and went.
- Worth reminding that the 50-DMA has recently crossed above the 200-DMA,
reinforcing the bullish theme. A jump through the Jan 14 high of Y76.14 before
turning focus to Y76.61, the 61.8% retracement of the Apr 17 - Aug 26 sell-off.
The rate peaked just shy of there (Y76.55) on Dec 27, the recent cycle high.
Meanwhile, bears look for a drop below the 21-DMA/yesterday's trough at
Y75.62/58 to gain some momentum.

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.