Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

AUSSIE-YEN: Positive risk appetite, stemming from....>

AUSSIE-YEN: Positive risk appetite, stemming from the U.S.-China trade truce
from over the weekend, has bolstered AUD/JPY, allowing it to cross above its
50-DMA at Y76.13. The initial move was accelerated by firmer U.S. equity
futures, which sapped some more strength from the already struggling JPY.
- As a reminder, Presidents Donald Trump and Xi Jinping agreed to restart
bilateral trade talks, as well as signalled some modest concessions on either
side, most of which were, nonetheless, widely expected.
- AUD/JPY last trades at Y76.17, 47 pips higher on the day.
- Bulls need to clear the nearby Jun 10 high of Y76.32 before attempting a run
at Y76.87, which represents the 38.2% retracement of the YtD range. Above there
would expose the Y77.00 mark, which has remained intact since mid-May and which
limited gains on May9 and May 13. A pullback through the aforementioned 50-DMA
and the upper 1.0% 10-DMA envelope at Y75.72 would give bears the green light
for targeting the 50% retracement of the YtD range, located at Y75.68.

To read the full story

Why Subscribe to


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.