Live trade: AUD JPY long: Fundamental reasoning AUD/JPYOANDA:AUDJPYjohnelfedforexblogIt could be classed as a 'risk on' trade given US inflation remains contained and S&P is rolling back up. Or it could be classed simply as a JPY short trade as it appears the JPY is currently the only short in town. The threat of a snap election continues to weigh on JPY sentiment. The risk to the trade is simply JPY strength, either through negative market sentiment or 'intervention chatter'.