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- Our call for AUD/JPY (http://www.econotimes.com/FxWirePro-AUD-JPY-tests-support-at-85-levels-good-to-sell-rallies-188545) has achieved all targets.
- The pair saw a knee jerk 60 pip spike from 84 levels to 84.63 post RBA decision to hold rates.
- But spike quickly erased, pair slips to hit fresh 3-week lows at 83.69.
- Momentum still heavily bearish. Test of 83 levels likely.
Recommendation: Stay short, lower stops to 84.20, target 83.20/83
