Apr 8th 2016: Yen Relief as Interest Wanes

• This morning, the yen is providing some much-needed relief for Japanese manufacturers by pulling back. After days of solid gains, the USD/JPY is on the rise this morning, with other troubled yen pairs such as the AUD/JPY bouncing strongly.

• The dollar index is unchanged after a small rise yesterday.

• Meanwhile, the euro continues to outperform the pound ahead of UK manufacturing data this morning.

Coming up today: 

• Coming up this morning, we have the UK manufacturing production, released alongside goods trade balance.
• From 13.30, we switch to North America for Canadian employment change and the unemployment rate.

Trade Idea: 

• Has  the AUD/JPY hit a rebound point or merely paused ahead of further selling?
• With the recent lows still not reached again, we’ll lean towards the latter, especially given the strong USD/JPY downside momentum.

• A good way to play this is a ONE TOUCH trade predicting that the AUD/JPY will touch 81.00 at some point in the next 7 days for a potential return of 109%.

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