Morgan Stanley goes short on AUD/JPY

Analysts at Morgan Stanley are suggesting a sell  bias on the AUD/JPY, targeting 79.00 from the 82.30 region, while their recommendation for a stop loss puts it near 83.30.

Key quotes

"We recommend selling AUDJPY this week.  The RBA is expected the sound relatively dovish in its statement this week, given that the most important data since the last meeting – CPI – came in below expectations… Risk markets also continue to look vulnerable, suggesting prospects forJPY repatriation flows, strengthening JPY".