AUDJPY If you miss the past one, there is a bigger ahead.
Greece drama trigger a risk off environment recently. However, today the S&P500 made a remarkable V shape reversal off a key support. I personally see the index have room to rally to a new high or close to the previous one. This possible risk-on period could potentially offer us a bigger risk off play going forward. Look around the JPY-cross, all the commodity-JPY made a significant lower high. I see only the USD, GBP are capable of rallying to new high. All the else offer us great opportunity to short in the future. Talking about AUDJPY to be specific, I see 93.3-94 area to be an ideal zone to look for short. Stretch to 94.8 is possible but unlikely.
TLDR:
play GBP, USDJPY for the long side and possible new high. Using the rally to look for short of AUDJPY, CADJPY, EURJPY.
TLDR:
play GBP, USDJPY for the long side and possible new high. Using the rally to look for short of AUDJPY, CADJPY, EURJPY.
Penafian
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