JPY Trading Outlook (07-06-2013)
CROSSES: AUD/JPY made some really big moves yesterday and briefly broke below important chart support at 92.90. The big flows remain AUD negative so selling rallies in this pair is preferred.
EUR/AUD is consolidating above 1.3800 and I think it’s too dangerous to try and pick a top in this pair. Even if the up-trend does stall, we are more likely to see a period of consolidation rather than a sharp retracement, given current flow trends.
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