A note a few days ago via BoA ML recommends long AUD/JPY, citing:
- a trade deal between the US and China is a positive for global growth
- China's demand for commodities is stabilising
- China fixing the onshore yuan below 7 is a sign China is confident on a roll back of tariffs by Trump
In the note Bank of America / Merrill Lynch recommended a long AUD/JPY at 74.75
Its below that now, so if you like the reasoning its a better buy.
Stop 71.50, target 80
