AUD/JPY -21

with this trade we have to keep in mind that Asian markets marked gains on average 1.4%, and European session is following its footsteps so far. US open (FX) is bit more than half hour away, and so far it's posting gains +50 on Dow Jones & +8 on S&P, so there is a danger of continuation of a trend. Trade is primarily driven by technical divergence on MACD, and Monthly resistance at 79.19 of March Low. Pair gained about 100 pips in Asia, and about 25 in Europe so far, what gives us the clue that not everybody is ready to jump into risk (AUD) just yet. It looks improvement of the sentiment on the market is not ready to rally Aussie too far, but in case that risk aversion breaks the party, we could expect serious sell off. Stops should start well above march low's 79.19, and targets should start bellow 78.20 and in the case of falling equities at 77.10