AUDJPY Retest Structure

FX:AUDJPY   Australian Dollar / Japanese Yen
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You seem to be one swimming against the tide of shorts on AUD/JPY . I tend to agree longer term, JPY is a "safe haven" currency but not as much as CHF. Fundamentals in Japan are not good with the Govt just issuing more debt that is bought mainly by Japanese pension funds etc. How long can that continue?
With China coming out of Covid-19 situation earlier than the rest of the world I think they will look to boost their economy with infrastructure and construction projects. If so AUD could benefit as a key supplier of raw materials to China. AUD is undervalued and only hit (like GBP is) on bearish market sentiment. I would say fair value of AUD/JPY would be about 85 longer term. Good luck.
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