AUD/JPY leads carry trade alternatives as MXN and TRY flash warning signs

The article argues that AUD/JPY is currently the strongest live alternative to the classic yen carry trade, supported by bullish technicals and a strong 1-year gain. It says AUD/JPY is trading at 113.39, up 18.11% over the past year, with strong buy signals across daily, weekly, and monthly timeframes, while sitting just 1.4% below its 52-week high. By contrast, USD/MXN has been a popular emerging-market carry trade but now looks exhausted, with strong sell signals and a 9.27% 1-year decline in USD/MXN. USD/TRY is described as highly overbought and structurally broken, despite its carry appeal. The article also notes USD/BRL may offer a fresher tactical carry entry. Overall, the piece is a market commentary favoring AUD/JPY as the cleanest risk-on carry trade, with caution on MXN and TRY.