AUD/JPY

AUD/JPY


Short AUD/JPY at market (now 59.71)
Stop at 60.31
Buy back half at 59.41. , move stop on rest to breakeven
Buy back rest at 58.35

It is a big night for Australia with the current account and retail sales due for release this evening at 7:30 pm ET and the RBA interest rate decision at 10:30 pm ET. We expect both announcements to be bearish for the Australian dollar. Furthermore, US equities dropped 679 points today and we expect follow through selling of all high yielding currency pairs in the Asian trading session.