AUD,NZD/FXWW News/JPY crosses

Nikkei over 5% lower; looking for deep AUD/JPY dips intraday

Like I said yesterday, large macro hedge fund is exiting positions across multiple markets and this is having a huge impact across various markets. The Yen crosses are being most impacted in the FX space.

Being a typical contrarian I’m looking at buy opportunities in AUD/JPY, but I will need a premium entry level given this volatility.

  1. Hi Sean, Just revisiting the EURJPY pair from the other day, it seems to be flirting with continuing the move to 125 without returning to the 129.50 area (that I thought might slow the decline but that proved to offer as much support as soft butter does to a hot knife!)

    I re-entered around 128.50 and have traded in and out. Just keen to hear your thoughts here as you were last looking at correction before a move to 125.

  2. Nice James well done. I think that this pair could turn sharply lower if the big long positions out there really start to sell. I’d suggest 125/129 like you say as range edges but s/t risk still to downside imho? I don’t think 126/127 is the place to be buying dips! 115/118 maybe

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