Leading Indicator FXA or AUD/JPY

The market short term is still being drug around by the nose by the AUD/JPY, it has been this way in after hours or overnight trade all this week, the day I said the pair was coming down was the only day the market didn't gap up the next day as the pair did come down.

ZH has an article about it this a.m., I haven't seen anything beyond the title, but it may have some interesting nuggets for those who want to understand carry.

For those who want an early warning, ,use FXA vs the SPY.

 FXA is just the ETF for the AUD, but that is a big part of the pair, this is AUD in red vs SPY in green, I showed you earlier in the week the correlation between the two as well.

This is the actual pair from 3 a.m. this morning to present.