My AUDJPY short is mainly coming from the strength I expect to see in the JPY over the next coming quarter.
Reasons for this come down to the strength seen in the NI225, continued weakness in the Australian 10 years and capital flows have seen more money go into Japan than Australia at a faster rate.
My TP and SL are calulated using %ATR; roughly you can expect a 4% movement per month in $AUDJPY so I have set a SL of 4% and a TP of 12%.
Reasons for this come down to the strength seen in the NI225, continued weakness in the Australian 10 years and capital flows have seen more money go into Japan than Australia at a faster rate.
My TP and SL are calulated using %ATR; roughly you can expect a 4% movement per month in $AUDJPY so I have set a SL of 4% and a TP of 12%.