JPY Trading Outlook (22-07-2013)

CROSSES: AUD/JPY is still looking moderately constructive, consolidating above important technical support at 89.50. Short-term resistance lies at 93.00 and we may get a test of that today after the Japanese election results? AUD/NZD looks to be in a 1.15/1.18 holding pattern with a bearish bias still. EUR/AUD has been pretty volatile in recent times and buying big dips looks like the safer play.

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