From a technical perspective not too much to offer.
Overall makes sense from narrative perspective, global growth worries and i think yields will struggle to move higher as the further we tighten the more we get past peak hawkishness for central banks. We also have a little risk off which should mean a lower AUDJPY. China worries are building again for the economy and with covid worries again i think this means AUD could struggle a little.
AUDJPY has yet to fall from the rising risk sentiment that happened over the past month or so.
I think what is interesting as well is EURAUD and AUDJPY have a pretty strong inverse correlation and so if you wanted to get in on the rising EURAUD play then AUDJPY may be a good way to do it.
correlations are suggesting lower to me, commodities are all moving a little lower, risk is moving lower and i think yields stay roughly where they are.
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