Free Trial

Upbeat trade comments from Chinese leaders......>

YEN
YEN: Upbeat trade comments from Chinese leaders supported risk overnight which
has seen JPY underperform across G10.
- AUDJPY closed above the 100-dma (Y79.27) yesterday, with the uptrend extending
to Y79.63. Next resistance is seen at Y79.75/85 which registered a series of
previous highs through Feb/Mar. Above here opens a move toward the Y80 level,
ahead of the 200-dma at Y80.28.
- USDJPY closed above the 200-dma & trendline resistance, giving further bullish
signals. This brings the 112 level into view, ahead of previously broken channel
base support-turned-resistance at Y112.12.
- GBPJPY sits top of the pile with gains of 0.28%, last Y146.40. Expect
resistance on approach to the Y147.00 level (Y146.96 - Apr 4 high).
- NZDJPY rests on resistance from the 100-dma at Y75.56. The 50-dma crossed
above the 100-dma yesterday, generating fresh bullish signals.
- CADJPY also saw the 50-dma cross above the 100-dma. Gains extended to Y83.69,
opening a move toward the Apr 3 high at Y83.87. A topside break of the Y84 level
opens the 200-dma & 61.8% fibo of the Oct - Jan fall at Y84.50/54.     

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.