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-YEN: Edges Lower In Tandem With E-Minis
AUD/JPY has shed 12 pips thus far and last sits at Y76.87, as e-minis have headed lower in early Asia-Pac trade. It has been relatively quiet on the headline and data fronts, with participants awaiting the latest monetary policy decision from U.S. FOMC.
- Bears look for a drop through the 50-DMA/Sep 9 low at Y76.19/12, which would clear the way to Aug 24 low of Y75.45. On the flip side, a rally above Sep 10 high of Y77.74 would encourage bulls to target Aug 31 high of Y78.46, the best level since the first half of 2019.
- Japanese trade data hits the wires within a few minutes.
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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.