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JPY Trading Outlook (31-05-2013)

CROSSES: EUR/AUD has again made fresh trend highs and my target at 1.3800 is coming clearly into view (see chart). This pair still seems to have potential for sharp gains given structural positioning in the market.

AUD/JPY chart support at 96.90 has held yet again and we can expect that there are a large amount of stop-loss sell orders now placed below there.

AUD/NZD has moved back towards its breakdown level at 1.1950 and I still favour selling rallies in line with the dominant downtrend.

Back to JPY Trading Outlook Archive

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