AUD/JPY might be the sharpest knife to drop from the drawer today, tumbling two yen in the last few hours.
Markets are in liquidation mode, with the good getting thrown out with the bad and the baby getting tossed out with the bathwater. These situations create opportunity but they require nerves of steel. If you want to trade counter trend (which I never recommend), use Sean’s strategy of starting small and building a position over time…
USD/JPY fell back to 91.67 and AUD/USD to 0.8901 before bouncing slightly.
