JPY Trading Outlook (05-08-2013)

CROSSES: AUD/NZD has been the big mover, jumping from 1.12 to 1.15 in a very short time. Previous lows near 1.1540 should now provide solid resistance (see chart). AUD/JPY is trading at mid-range levels near 88.00 and the range edges to watch here are at 87.25/89.00; selling rallies still preferred whilst prices are below 89.50

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