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AUD/JPY shorts were the best trade this week

October 16, 2020 by admin 0 Comments

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RBA cut talk and risk aversion dominated

The RBA offered its clearest indication yet that a rate cut is coming on the same day as the US election. That was one of the factors that weighed on the Australian dollar this week as it badly trailed its G10 counterparts.

The yen was on the flip side as risk aversion crept in.

Looking at AUD/JPY, it fell every day this week but found some bids under 74.50 yesterday and today. Technicians will be watching 74.00 in the week ahead. It’s a great spot to manage risk for anyone trying to buy the latest dip.