- We can expect the usual last minute end-of-financial year Yen buying before close of business tomorrow
- Market had been buying AUD/JPY in anticipation of Toshin demand this week
- Risk sentiment always wavers towards the end of the week
I don’t have any exact levels on this pair but I’m told from the Prime Brokerage market that many macro funds and CTAs are quite heavily long of this pair and we may be in danger for a short, sharp sell-off over the next few days. There probably won’t be many panic buttons pressed until 84.75 breaks but this pair is worth keeping an eye on. Resistance should begin to firm up now near 87.00.
