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JPY: Rises To Multi-Year Highs Amid Risk-On Flows


AUD/JPY, a popular risk barometer, has firmed up early on, hitting best levels since Dec 14, 2018. The rate last sits +20 pips at Y81.63, testing session highs. The move has seemed as a function of broader risk appetite, with all three e-mini contracts showing at fresh all-time highs.

  • Bulls look for a clearance of the upper 3.0% Bollinger band of Y82.09 before targeting Dec 13, 2018 high of Y82.21. On the downside, a dip through Feb 9 low of Y80.65 would open up the 50-DMA at Y79.66.
  • The RSI is nearing the 70 threshold. Bears are on the lookout for a break above that level followed by a pullback, which would provide a "sell" signal.

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