FAX does seem to be reaching a disc that could make the long term prognosis for it viable.
Bear case: Some Australian banks are looking for the $AUS to dip under $.70 this year. Then there is tax loss selling in a few months. It also depends on whether you feel that commodities (oil, iron ore, coal, gold) have bottomed. And when commodities go up, will the reasons that they go up pull up interest rates along with them. If we hit a recession, all boats will likely go down.
I live in Australia, and I don't see anything happening to cause a sudden shift in FAX either way. However, it the yield were to temporarily hit 10%, I would certainly consider jumping in.