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AUDJPY Coiled in the 109 Zone – Buy the Dip, 112 in Sight?

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AUD/USD is holding its gains in mid afternoon trading

Wednesday, April 22, 2015 5:27 AM UTC

AUD/USD up 0.75%; AUD/NZD up 0.7%; EUR/AUD down 0.75%
Only AXJ followed the AUD lead suggests China correlation at work
AUD move today likely overstated by short covering interests
Offshore however has a weakness for trading contra on such moves

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AUD/USD is holding its gains in mid afternoon trading

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