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AUD/JPY: Bulls drop the ball on their New Year's Resolution

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    According to the Chinese Zodiac, 2016 is “The Year of the Monkey” but based on trade so far today, it looks more like the Year of the Bear. A big wave of risk aversion hit the market at the start of the New Year, driving riskier assets lower across the board. Speaking of China, the epicenter of today’s selloff appears to be the Middle Kingdom itself, where both the Caixin (48.2) and official (49.7) Manufacturing PMI reports missed expectations. By the end of the Asian trading session, the

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