AUDJPY Downside Bias with The Current Risk Off Tone

Sell 74.0095 - 74.160 or 74.290 if we see some pullback
TP 1 - 73.860 at ADR low
TP 2 - 73.663
Stop Loss - above 74.290

Quick update on this dominant currency sentiment theme for today's US session.

We can see that we still have overall risk off tone in the market. However, it is clear that the risk tone has seem to have cool to a modest degree thru out the session so far. As such, AUD and CAD remain broadly weaker in the day. Likewise the safe heaven like JPY and CHF remain firmer in the day.

At this stage, the market is still waiting for more clarity. However, as long as that overall more negative risk off tone remain . We do see pressure coming into the commodity currencies like AUD and CAD and strength coming into CHF and JPY.

Something also to take note, US market is closed for Thanksgiving holiday, so we have thinner liquidity in the market. Because of that, that might be the reason we might not see a lot of follow thru in the more classic risk off move in the market. However, as long as risk off tone remain, we do see more downside bias for AUD and CAD and upside bias at CHF and JPY.