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AUD/JPY tumbles like we’re in a crisis, Nikkei hammered by stronger yen
You don’t see unwinds of Japanese yen carry trades like we’re seeing right now outside of crisis periods. It doesn’t feel like we’re in a crisis, making me wonder just how long the current bearish move will last? AUD/JPY has been among largest casualties, hammered lower by a combination of China pessimism, large declines on Wall Street and narrowing yield differentials between the United States and Japan. I discussed a short setup in AUD/JPY yesterday, but such has the speed of the unwind been it’s nearly reached the target after falling more than 150 pips, extending the decline from the recent peak to over ... (full story)
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- Jul 24, 2024 10:44pm Jul 24, 2024 10:44pm
- Wingcommandr
- | Joined Jun 2022 | Status: Member | 87 Comments
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- Posted: Jul 24, 2024 10:35pm
- Submitted by:Category: Technical AnalysisComments: 1 / Views: 3,956
