Listen to the latest market mood for the AUDJPY pair.
The JPY is weak today on the positive risk tones we are seeing in the market over hopes of a COVID19 vaccine from the company Moderna. This has positively boosted equities and if that sentiment lasts today we would expect that to weaken the JPY, CHF, and the USD.
The AUD is strong today after RBA minutes released last night agreed that the latest policy was broadly working as expected and that it would be monitoring outcomes carefully. The AUD also benefits from the positive risk sentiment from the vaccine hopes. As a high beta currency, it finds buyers in a risk positive environment.
- Therefore expect AUDJPY buyers from pullbacks.
- This outlook is to last for the next 8-12 hours.
Trade Risks to this outlook:
- Further US/China trade war tensions will impact risk and result in more AUD weakness and JPY strength.
- Any negative COVID19 vaccine news will impact risk and invalidate this outlook.