ridethepig | 80 In Play For AUDJPY
An update to the AUDJPY chart as we continue in the positive US-China trade 'deal'. Asian FX is benefiting from this party as witnessed with USDCNH starting to turn down, and both AUDJPY & NZDJPY clearly breaking higher. Most of the usual commentators are remaining suppressed via the absence of detail and the fact that (slightly less) protectionism is still falling short of free trade.
This pair will remain at the mercy of risk gyrations from the US-China relationship, for now as widely mentioned here and in the Telegram we have spotted the Giant Panda sitting on the AUD bid:
We also still have the AUDUSD daily chart running:
From a strictly markets perspective, it's good news that many are remaining skeptical. It means we can start to use AUDJPY as a barometer in the perception of this global economic rebound. Highly recommend all to jump in with their AUDJPY charts and ideas in the comments and we can open up the macro conversation.
All the best.
This pair will remain at the mercy of risk gyrations from the US-China relationship, for now as widely mentioned here and in the Telegram we have spotted the Giant Panda sitting on the AUD bid:
We also still have the AUDUSD daily chart running:
From a strictly markets perspective, it's good news that many are remaining skeptical. It means we can start to use AUDJPY as a barometer in the perception of this global economic rebound. Highly recommend all to jump in with their AUDJPY charts and ideas in the comments and we can open up the macro conversation.
All the best.
Comment:
This is starting to run out of steam with risk about to cause JPY inflows we may get stuck in a major chop... will give it till the end of the week to decide on whether to cut.
