AUDJPY, USDJPY and CADJPY are all looking like strong buys at this point. Even GBPJPY is beginning to break above its downtrend. And while EURJPY is lagging behind the bunch, the biggest hindrance in the carry trade looks to be AUDUSD. Without AUDUSD making new highs, it is unlikely that the yen pair can continue their upward momentum.
The movement in the S&P has been favorable to the carry trade. It moved sideways today and well […]