Both the JPY and AUD have proven ripe for picking the past few sessions. With the renewed strength of the USD sweeping through and the price of commodities finding some downside pressure both the JPY and AUD have lost value. The JPY finds itself on the weaker side of its range against the greenback suddenly and the question is how long can this trend continue. The JPY has shown a steady ability to bounce back against the USD, but a weakened JPY will not be a ‘sore point’ for the Japanese government which knows it will help their export companies. The AUD has come off of its highs and now is finding itself under the duel shadow of gold which has found that speculation can work both ways (as the precious metal has softened in value) and a stronger greenback. Opportunities are ripe for traders in both of these currencies who have the stomach to participate in these currencies.
Written by bforex.com
