Free Trial

Firms Above ¥98 Handle, Natl CPI On Tap

AUD

AUD/JPY firmed above the ¥98 handle yesterday as improving risk sentiment supported the cross yesterday.

  • In early trade today we sit at ¥98.00/05.
  • Bulls focus on breaking 16 Nov high (¥98.62). This opens the ¥100 handle, Dec 2014 highs (¥101.37) and Nov 2014 highs (¥102.85).
  • On the downside bears target the 23.6% retracement of the Jul-Nov bull leg which intersects at the ¥97 handle. A break through here opens the 100-Day EMA (¥95.24). The 200-Day EMA comes in at ¥94.10.
  • At the bottom of the hour National CPI for October is due. The market expects headline to rise 3.4% y/y, from 3.0%, while core (ex fresh-food and energy) is projected at 4.1% y/y versus 4.2% prior.

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.