AUDJPY to continue with the current trend.
My collection of indicators is indicating a bearish continuation move.
On the fundamental side, the market is awaiting what Powell will say during the symposium to see if they can continue the never-ending party they're having with unlimited cash. This is a risk for this trade as AUDJPY can reflect the balance between risk off and risk on. Nevertheless, the situation in Australia is currently negative with covid outbreaks and social unrest and what Powell will say should mainly influence USD pairs, so the risk was considered manageable for this trade.
On the fundamental side, the market is awaiting what Powell will say during the symposium to see if they can continue the never-ending party they're having with unlimited cash. This is a risk for this trade as AUDJPY can reflect the balance between risk off and risk on. Nevertheless, the situation in Australia is currently negative with covid outbreaks and social unrest and what Powell will say should mainly influence USD pairs, so the risk was considered manageable for this trade.
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