AUDJPY lower
I think i like AUDJPY lower here.
Similar reasoning to my CADJPY post, JPY should get stronger on falling/ranging global yields and risk sentiment should continue to fall on global tightening policies. AUDJPY is a proxy to the S&P, i think we've had a decent enough rally in the S&P to allow for further downside.
AUDJPY sentiment and positioning was extremely high a coupe weeks ago so i think this continues to fall.
Not trading/investment advise, feedback welcome!
Similar reasoning to my CADJPY post, JPY should get stronger on falling/ranging global yields and risk sentiment should continue to fall on global tightening policies. AUDJPY is a proxy to the S&P, i think we've had a decent enough rally in the S&P to allow for further downside.
AUDJPY sentiment and positioning was extremely high a coupe weeks ago so i think this continues to fall.
Not trading/investment advise, feedback welcome!
Note
moving the stop to 91.991, think it makes sense to give this trade more room with recent risk on sentiment
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.