Listen to the latest market mood for the AUDJPY pair:
Strong AUD, Weak JPY
Risk tone was positively impacted yesterday as Moderna announced that their vaccine has a 94% efficacy rate and a longer shelf life than the Pfizer and BioNtech vaccine. Furthermore, the vaccine can be stored using normal refrigerated temperatures as opposed to the Pfizer vaccine which needed to be stored and transported at -70C.
The positive impact of this news sent stocks higher, yields higher, high beta currencies higher, and oil rose too.
As long as this risk tone remains, expect more upside in the AUDJPY pair. It is a go-to global risk pair and in a positive risk environment, expect AUDJPY buyers.
Trade Risks: The main risk to this trade is if there is a negative change in the risk tone.