A mysterious phenomenon is occurring in the foreign exchange market in March 2022. Russia’s invasion of Ukraine has become a serious problem worldwide, and inhumane acts such as indiscriminate murders by Russian troops and bombing of private facilities are occurring every day, and are being criticized by the world. At the time of such a war, the Japanese yen is always bought, but in the foreign exchange market in March 2022, it became the sole place of the Australian dollar, which is very rare. The Japanese yen is losing to the Australian dollar.
One-sided buying Australian dollars
Looking at the major currency pairs, there is a one-sided buying of Australian dollars in every pair. In addition, crude oil plunged temporarily, but nevertheless the Australian dollar buying is unilateral. This is very rare and the Australian dollar shows an advantage in all major currency pairs.
AUD/JPY
The chart below is the AUD / JPY daily chart in early March 2022. Looking at the last week, it’s almost full of positive rays. It has continued to rise by nearly 3 yen, and the momentum has not stopped at all. In the event of an emergency, an event has occurred that completely overturns the concept of buying Japanese yen
AUD/USD
The chart below is the AUD / USD daily chart in early March 2022. Looking at the last week, it’s almost full of positive rays. It also shows an absolute advantage over the US dollar, and the momentum does not stop. What the hell is going on? Level.
EUR/AUD
The chart below is the daily EUR / AUD chart in early March 2022. Looking at the last week, it’s almost full of hidden lines. The invasion of Ukraine is currently continuing, and the euro’s depreciation has not stopped at all. This has caused a noticeable plunge.
GBP/AUD
The chart below is the GBP / AUD daily chart in early March 2022. Looking at the last week, it’s almost full of hidden lines. The invasion of Ukraine is currently continuing, and the depreciation of the pound has not stopped at all. This has caused a noticeable plunge.
Is buying Australian dollars a geographical reason?
Until now, Japanese yen buying has always occurred when anxiety factors such as emergencies and epidemics occur. But now, the Australian dollar is being bought unilaterally instead of the Japanese yen. It seems that they tend to be bought with confidence because Australia is located far from Ukraine. Japan is a country adjacent to Russia, and there was news that Russian troops invaded Japan’s territory in March. Therefore, it is possible that the Japanese yen has been avoided.
Beware of sudden fluctuations
As I wrote in the article below, the strength of currencies can be understood by comparing various currency pairs. Currently, the overwhelming strength of the Australian dollar stands out, but the price movement is so unilateral that a sudden reversal is possible. Traders should be careful.
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