JPY Trading Outlook (18-07-2013)

CROSSES: EUR/AUD continues to drift lower after putting in those fresh weekly highs at 1.4400 and we seem to be in a consolidation phase at present between 1.39/1.44 (see chart). AUD/JPY is following a similar pattern to AUD/USD and the levels to watch there are at 89.00/93.00. AUD/NZD continues to trade quietly around 1.1700 and it needs to break back above 1.1800 in order to put an interim base in place.

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