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JPY Trading Outlook (17-07-2013)

CROSSES: EUR/AUD has fallen back towards 1.4200 and this raises the possibility that the break above 1.4400 was a false one. This pair should stay volatile and a 1.39/1.44 range should cover most eventualities in coming days. AUD/JPY has also recovered nicely and support at 89.00/50 is still the key level to watch, with resistance now at 93.00. If AUD/NZD can break back above 1.1800 it would indicate that an interim base has been formed.

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