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AUD/JPY held support at 86.39 August lows; next move should be to 90.12

FXstreet.com (Barcelona) – The shorting of AUD/JPY as part of the “risk-off” trade saw a sharp reversal Wednesday as technical support held its ground and the US ruled out unilateral military action against Syria.

Global risk bulls back to buying AUD/JPY on the reversal in Syrian news

The AUD/JPY’s status as a gauge of risk for global investors was highlighted here in recent days. The problem with trading in such a gauge is that you can be victimized by headlines at any point. That clearly could have been the case for many unsuspecting traders Wednesday when headlines …read more