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AUD/JPY down in the dumps, risk-off kicks in as Powell gives up the ghost

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Fxproooo

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At the time of writing, AUD/JPY is trading at 73.25 within a 73.23 and 75.00 range losing over 25 on the day on a risk-off market.

Volatility has spiked following the Federal Reserve with the VIX printing higher and breaking out of a bearish/sideways trend for the month so far.

The stock market has wobbled from its glorious heights and weak hands are abandoning ship, expecting its northerly trajectory to be seriously jeopardised under so much uncertainty.

Powell's bearish reflection on the current situation and pessimistic outlook where he described a bleak future for the US economic landscape where many millions of jobs may never come back has taken its toll on a fragile market, forcing out the weaker hands.
 

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