The Australian dollar quickly jumped as trading winds down for the week.
AUD/JPY busted above yesterday’s high of 101 and ran stops. AUD/USD ran to 0.8539 from 0.8505.
AUD/JPY 30 minute chart
To me, it looks like there was some kind of real money flow that needed to be completed before the end of the week/month.
Not only is it month-end today but the market is also thinned because of the US holiday.
In general, moves that don’t have a good catalyst like AUD/USD are better to fade.
