The Australian Dollar remains under pressure after the disappointing inflation data while the Japanese yen is stable after the BOJ decision. What’s next? Here is their view, courtesy of eFXdata: Societe Generale Research discusses AUD/JPY outlook and recommends staying short the cross on a medium-term basis. “With risk sentiment so fragile the yen appears to be diverging from measures of risk. The chart plots AUD/JPY against the MSCI world equity index and to the naked eye, it shows how AUD bulls were frustrated in 2017/2018, and how yen bulls are being frustrated at the moment,” SocGen notes. A rolling correlation of AUD/JPY and equity indices is better than the (still positive) correlation with USD/JPY but what’s surprising is that in the last few weeks, it hasn’t really fallen much. It just feels as though it has!… The very slow and controlled crawl in USD/CNY towards 7 plays a part in the yen’s inability to rally, and we worry about what happens when that level breaks, but we’re persisting with AUD/JPY shorts, because the AUD will surely feel a move in USD/CNY more keenly than the yen will,” SocGen argues. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next BoJ’s Kuroda: Risks are skewed to downside for economy, prices FX Street 4 years The Australian Dollar remains under pressure after the disappointing inflation data while the Japanese yen is stable after the BOJ decision. What's next? Here is their view, courtesy of eFXdata: Societe Generale Research discusses AUD/JPY outlook and recommends staying short the cross on a medium-term basis. "With risk sentiment so fragile the yen appears to be diverging from measures of risk. The chart plots AUD/JPY against the MSCI world equity index and to the naked eye, it shows how AUD bulls were frustrated in 2017/2018, and how yen bulls are being frustrated at the moment," SocGen notes. A rolling correlation… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
