I know there are a few contrarians like me out there looking for a possible 300 pip turnaround and I think AUD/JPY might be worth a look later on today.
I don’t think it’s worth the risk entering close to current levels but if AUD/USD breaks above the 1.0375 option level and if USD/JPY stalls near the 200-day MA, then AUD/JPY might be worth shorting. I’m guessing that the cross would be somewhere in low 87’s then, so selling with a stop above 88.00 and a target around 84.50 looks like a potentially good risk-reward trade. Just a thought.