I have been bullish on AUDJPY for the better half of a year.

•The Yens appeal as a haven has been in decline

•Commodities on the rise - important for commodity based countries like Australia and Canada

•Vaccines are finding traction - just about to be rolled out here in Australia

•Leverage funds are net long AUD - at least from at a glance more and more funds are buying the AUD

•RBA QE limits the upside for AUD - this is the limit breaker, Aussie QE is starting to try and beat the currency back down. No QE expansion for the moment but should RBA minutes tomorrow change that I will cut it and run with my pips.

AUDJPY - Long

Feb 15 2021

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