AUD/JPY Breaks 100 but Does Will it Play Out Like AUD/USD?
AUDJPY has broken a weeks long congestion pattern and tentatively taken out a bull trend that has represented critical themes like risk trends and BoJ stimulus. This technical move draws easy comparisons to the early break from AUDUSD below 1.0150 that has inevitably pitched the pair into its most aggressive decline since 2011. However, technicals only make up one side of a probability scale. What about the influence of risk trends and the general stubbornness of the yen crosses? We discuss this trade and its implications for risk and stimulus themes in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.