AUD,NZD/Technical Analysis/Trade Ideas/USD/JPY

AUD/JPY: Trade with an intraday bearish bias

The AUD has been under mild pressure for the last 3 sessions as medium-term longs start hedging ahead of the weekend Chinese PMI data and the RBA decision on Tuesday. As its Friday, positional adjustment is always a major theme and JPY shorts are very prominent still, so we could see some covering there. In other words, downside pressure on AUD/JPY could be one of the main factors today. Look to play the short-term range edges at 85.20/86.00 with a bearish bias on the day.

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