eFX: Morgan Stanley trade of the week... Sell AUDJPY

Sell with a target at 79. Current price is at 82.32

Currency investors should consider selling AUDJPY this week, advises Morgan Stanley in its weekly FX pick.

Trade: Short AUDJPY (current price is 82.32)

Target 79.00

Stop loss: 83.30

In their words:

"We recommend selling AUDJPY this week. The RBA is expected the sound relatively dovish in its statement this week, given that the most important data since the last meeting – CPI – came in below expectations… Risk markets also continue to look vulnerable, suggesting prospects forJPY repatriation flows, strengthening JPY"

This recommendation is from eFX. To subscribe, CLICK HERE