AUD/JPY has been able to weather the combined storm of the stock market slump and yen strength. The chart looks starkly different than other yen crosses, which took on some water.
Earlier today, the pair tested last week’s low but it has rebounded admirably, alongside the better tone in risk assets.
In the bigger picture, the 72.00-90.00 range of the past three years remains the dominant feature.
It has been a tough week to trade but the skies are clearing.
