Free Trial

JPY: Extends Gains After Rallying Through Y80.00 Mark

AUD

AUD/JPY crossed above the psychological Y80.00 level Wednesday, having last looked above that level in 1H2019. The rate moved higher as participants watched Georgia runoff elections and perceived odds of a "Blue Wave" steadily increased. The rate consolidated gains in the second half of the day, struggling to extend gains amid the NYSE's another about-turn on Chinese telecoms delisting & social unrest at the Hill.

  • The pair last deals at Y80.53, a dozen pips better off as we type, trading through Wednesday's high. Next resistance coming up at Apr 17, 2019 high of Y80.72, a break here would open up Dec 13, 2018 high of Y82.21. Bears need a retreat under Jan 4 low of Y78.85, which would bring Dec 28, 2020 low of Y78.48 into play.
  • Australian building approvals and trade balance are due later today.

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.