Short AUD/JPY (Scalping Strategy)
I have been taking short-scalps on the AUD/JPY pair as risk continues to suffer on the back of yesterday’s Fed announcement. Downside scalps to the denoted levels viable so long as risk sentiment remains on the defensive. And with increased talk of a possible SNB intervention, haven flows now continue to favor the yen. Keep a close watch on the wires though for remarks from the BoJ also, as the yen may be getting overbought here, with Japanese officials likely to move on FX markets with further rapid appreciation.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.