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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.
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The JPY has moved off of worst levels, and......>
YEN: The JPY has moved off of worst levels, and now trades slightly stronger vs.
USD on the day, with USDJPY at 106.65, EURJPY at 131.30 & AUDJPY at 83.85. Well
trodden political scandal in Japan seems to be garnering more traction as fresh
details came to light over the w/end & could undermine PM Abe & FinMin Aso.
- For USDJPY hesitation and a lack of follow through on recent '18 lows is less
than ideal for bears who are currently focused on 98.95-101.15. In saying that,
resistance layers remain with bulls needing a close above 107.19, with 107.00
capping the pair in early dealing this week.
- For EURJPY the failure to gain traction above the 200-DMA & the 21-DMA capping
resulted in a sell-off and sees immediate focus on 129.33-53 where 2018 lows &
the 200-WMA are noted. Bulls still need a close above 132.18 to ease bearish
pressure and shift initial focus to 133.05-134.16 (55 & 100-DMAs).
- AUDJPY's '18 lows lacked follow through last week leaving a double daily
bottom in place. Bulls take comfort in Friday's rally & close above resistance
levels that sees focus now on the close above 84.20. Bears now need a close
below 83.32 to ease renewed bullish pressure.
To read the full story
Sign up now for free trial access to this content.
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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.