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Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

YEN
YEN: JPY traded around session highs heading into the Tokyo fix, with talk of
CTA type buyers. USDJPY last at 107.45, EURJPY last at 132.95, AUDJPY last at
83.75. Sentiment was also aided as US President Trump & Japanese PM Abe stressed
that they want to work together to come to a trade deal, however, the press
conference from the two leaders offered little new, as Japan still favours TPP,
while the US favours a bilateral deal.
- USDJPY remains capped ahead of the 108.03-42 resistance region, while bears
continue to look for a close below the 21-DMA (106.56).
- Support emerging ahead of EURJPY's 55-DMA (131.83) provides bulls comfort with
bears needing a close below the April 12 low (131.78) to ease bullish pressure.
Topside hesitation continues with bulls looking for a close above the 100-DMA
(133.05) to end bearish hopes and shift overall focus back to 2018 highs.
- AUDJPY's aggressive rejection above the 55-DMA (83.23) & 100-WMA (83.63) on
Friday was less than ideal for bulls with daily studies overbought. Bulls now
need a close above the April 13 high (84.06). The highs from April 6 & 9 (82.58)
provide support.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com