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Free AccessJPY: Gives Away Yesterday's Gains
Risk barometer AUD/JPY has shed 13 pips so far, virtually erasing yesterday's gains, and last operates at Y84.17. The rate has traded on a softer footing as e-minis have headed lower, despite little in the way of headline catalysts.
- That being said, the rate is poised for a weekly gain and has almost recouped last week's losses.
- Bears set their sights on the 50-DMA, which kicks in at Y83.34. A break here would shift downside focus to Apr 9/13 lows of Y83.04/03. On the flip side, a jump above Apr 2 high of Y84.49 would give bulls a green light for targeting Mar 18 cycle high of Y85.45.
- Implied ATM 1-month volatility sits at 8.30%, just above the recent multi-month lows.
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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.