Opened a short position on AUDJPY. Looks like the risk-on sentiment are changing to risk-off and if this happens we will see an inflow to safe-haven currencies liek the Japanese yen. With that it also looks like commodity prices are coming under pressure. When this happens with equity markets also turning negative it effects the high-beta currencies liek the AUD that are sensitive to equity and commodity prices. We are also seeing a strong bullish engulfing candle being rejected off the R38 pivot level (between the R78 & R100 pivot levels of last week), with a keybar indicator which is also a strong bearish signal.
What is moving the market?