Reasons why I believe AUD bias is still strong
- are up and still running high - speculated on or out, that's the direction of the market
- RBA still has plenty of room to move in interest rates and derived bonds still looking healthy in immediate short term
- Domestic labour market still in good shape and adjusting at good rate away from mining sectors.
Reasons why AUDJPY will go up:
- BOJ announcement tomorrow will be dovish no what as a proxy intervention to depreciate Yen
- rally leading to massive on risk market behaviour
- Because its Yen
Plan: Looking for price to touch .230 fib and trend support and sit out BOJ and watch price action.
Until clam down - AUD will continue its slow rebound