Saxo Group Videos

Lucas: AUDJPY trade - safe haven from Greece and China

Steve Lucas outlines his trade in AUDJPY. "Apart from Greece, investors have suddenly realised the China stock market free-fall isn’t ending." says Steve who argues that the Yen should therefore be a temporary currency of safe haven.

With the RBA continuing to want AUD lower, Steve is adding to a trade he's been running for a while.

Steve is selling AUDJPY at market and 90.90,

Stop: 91.52, just above today’s high in Asia.

Targets: 89.75. 89.37 this year’s base in Feb and 88.24, the 2014 low.

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01:28 minutes
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