AUD/JPY: Solid bounce suggests that base mightn’t be too far away

I’m still of the view that the AUD sell-off against the EUR, JPY and USD is overdone and that we will eventually get a decent bounce. Not sure that the base has happened just yet but pairs like AUD/JPY, which has bounced almost 150 pips off earlier lows, does suggest to me that a base will form fairly soon.
Catch you tomorrow.

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