Listen to the latest market mood for the AUDJPY pair.
Weak AUD, Strong JPY
The release of big tech earnings last night from Amazon, Apple, Twitter, Facebook, and Alphabet was largely a disappointment to the market and US futures markets are trading lower across the board. Oil is trading lower from the last few sessions, bond yields are pressured, gold is feeling the pinch, and the market looks to be heading into another risk off day as chances of further national lockdowns grow and risk off flows increase on the concerns over the coming US election.
Therefore, in this risk-off environment, expect JPY buyers and AUD sellers. Pullbacks on this pair should find sellers.
Trade Risks: The main risk to this trade is if the market switches to a risk on setting.