Oil, Copper fall heavily; likely to influence AUD/JPY in particular
Crude oil prices dipped below $50/bbl for the first time in over 5 years and copper prices also fell heavily during NY trade. This sentiment is likely to carry over into the Asian market and pairs like AUD/JPY and CAD/JPY might be vulnerable to some increasing downward pressure.
🙂 short C/J
Copper looks very very bearish to me. Everything that holds good for Crude oil story (the plunge) holds good for Copper as well. Technically, its just waiting to roll off a cliff.
I really hope I am wrong here.