G20 Meeting: AUDJPY

This week's highlight event is the G20 meeting in Osaka, Japan. Trade talks between U.S President Donald Trump and that of China will influence the AUDJPY currency pair. To make long story short if both parties do not come to an agreement or at least a truce doesn't happen, the AUD is going to fall quiet significantly. This is due to the fact that the market will switch to a risk off. During times of risk off, traders tend to switch to safe haven currencies like the JPY and CHF. If this becomes the case then the AUDJP could drop to 74.00
On the other hand if both parties come to an agreement then the AUD might catch a bid. If this be the case then the pair could rise to 77.50