I’m quite short AUD/JPY and also short a bit of AUD/USD so I’m happy to book some profits around the prior spike low at .9740 where there are rumoured to be some decent sized bids. I still think there is scope for a bigger clean-out of longs over the next week or so but with the carry so expensive, booking partial profits on dips and re-setting on rallies does seem like a sensible strategy.