AUD/JPY shorts survive, but only just

05/03/2012 | 05:24 GMT

Our short AUD/JPY trade from Friday got within 7 pips of being stopped out but as we know in FX, it’s better to be lucky than good, and we are now in the money by nearly 50 pips. If we get a sharp risk-off sell-off during London, then I’ll look to buy back at 85.70 at best or maybe a bit higher depending on how the price action develops.

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