Flows and Orders/FXWW News/JPY crosses

AUD/JPY: Volatile but maybe best left alone whilst cynics at play

There was a nasty spike lower earlier this morning in AUD/JPY to levels near 86.55 before it immediately bounced. This looked like a typical cynical stop-hunt to me and I hope none of you got caught up in it. If that’s the way this pair is going to trade, it’s probably best left alone.

  1. Hi Sean, this spike dragged audusd to its low and near support around 0.892 too. Hope your stops were not triggered? Seems the double-bottom scenario still holds for now?

  2. Still alive Ray, moved my stops down to 08 just to give bit of space, which is close to where my average entry is for entire trade. Another 3 weeks wasted in the life of an FX trader 🙂

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