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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 firmed above the 200-Day EMA and is dealing above the ¥91 handle on Wednesday printing its highest level since 8 May. Improved risk appetite as the S&P500 rose ~1.2% and higher US Treasury Yields aided the pair yesterday.
- The pair now sits at ¥91.55/65, for the most part a ¥88/92 range has persisted since April.
- On the upside bulls target the high 2 May at ¥92.44, this opens ¥93.04 the high from 15 Feb.
- Bears first target a break below the 200-Day EMA (¥90.82), with ¥89.16 the low from May 4 providing the next support level.
- The next major risk event for the pair is today's Australian Labour Market Report, the unemployment rate is expected to hold steady at 3.5%. On the wires shortly we also have Japan's April Trade Balance, a deficit of ¥600bn is expected.
Fig 1: AUD/JPY Daily Spot, EMAs
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.
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