AUD/JPY: Might be worth a quick short at 94.10?
The Apple crumble (pardon me, couldn’t help myself 🙂 ), the 10% fall in AAPL after the revenue forecast certainly affected risk sentiment this morning and AUD/JPY is usually a good pair to trade if you have a view on short-term sentiment swings. The pair has bounced after the Chinese data but it looks like the bears could have a good entry level at 94.10 which is certainly worth considering if you feel that more equity market weakness is around the corner?
I’ve posted the AUD/JPY chart in the members section which shows the 61.8% level I’m looking at.
(Edit: Looks like we missed our chance there, with 94.02 the high; money for old rope selling that silly rally!).