AUD/JPY was the largest percentage mover as Monday’s session wraps up, declining 1.5%, or 125 pips.
This is another chart that suggests the risk rebound has run its course. The large red candle today follows two failed attempts to break the 50% retracement of the March-April decline.
AUD/JPY is the carry-trade pair and is characterized by the occasional rush to the exits so a continued sharp fall is always possible.
