Listen to the latest market mood for the AUDJPY pair:
Asian equities have been mixed overnight following a second day of Wall St gains. The main concern for the market remains the extent of the coronavirus outbreak. A huge economic stimulus package is all well and good from the US, however, the spread of the virus is the main concern. President Trump seemed overly optimistic that the virus will be over by Easter and the US now has over 1000 recorded COVID-19 deaths. There is a real prospect of the US becoming the new epicentre of the virus.
- Keep an eye on the latest coronavirus updates to measure risk.
- Expect sellers on AUDJPY from pullbacks if the risk tone turns sour at the start of the European session
- Trade Risks: The main risk to this setup remains to be any positive coronavirus news which would send the market back into a risk-on mood.