Yikes looks like I was a little early in the AUD/JPY purchase yesterday...Yen continues to be on a tear, and this has dropped another 2 big figures from yesterday, taking it's drop to about 5 points in a week. Looks a little too far too fast for me, especially since Japan looks like it is heading right into a recession, which Japan Economy Watch details nicely.
Just paid 90.90 for the Jun '08 contract, that's with spot trading 93.18.
Looking on the long-term chart, if you think that trend of a rising Aussie is still intact (and with a slowing Japan and still high Aussie rates, I don't see why it shouldn't be), then the entry point today looks good...but then I thought that yesterday also...
[Admin note: just a reminder, I haven't figured out how to get forwards into the spreadsheet, so I'll just put in the spot rate and adjust when I close the trade, to keep P+L exactly right]