Here comes the dip!
AUD/JPY has fallen off faster than I had anticipated which has given me my hoped-for dip in AUD/USD and cable.
It’s Friday and Wall Street had another shocker overnight, which means that the risk off plays will be front and centre. I’m not exactly sure how far we can go but I hope to start picking up some AUD/USD on the approach to .6735 and my ideal entry levels for medium-term longs in cable look to be around 1.2410.
USD/JPY looks like it could fall off a cliff and I’m staying small short there and will add on the day if bearish momentum starts to build again.
Should be an interesting day 🙂