DislikedAs all of you will be aware we are in October, the famous months for crashes. Today was a big down day, if like me you remember some of the previous falls, they often start out as fast falls, it seems that this is exactly what we got today 19th October 2010.
So if you are a currency trader as a lot of you are which pairs are going to storm down if the markets do go into free fall?
Well the AUDJPY is a great candidate and its broken out of that flat correction it was in, to the downside. If we are on the cusp of a big one then 55.62 or even 35.61...Ignored
If dlr yen weakens and dlr is strengthening BOJ will be concerned.
I dont think they minded when the dollar was looking weak.
If you are purely looking at the AUD depreciating then fine.. but I dont see risk reward on it for me.. each to their own.. Good luck