JPY Trading Outlook (07-08-2013)
CROSSES: AUD/JPY is the most interesting of the crosses at the moment with a potential double-bottom at 87.20 and strong resistance starting at 89.00 (see chart). I’d play close to the edges of this range and get your next medium-term bias from a break either side. AUD/NZD is also in range trading mode between 1.12/1.15 and selling exhaustive rallies looks like the safer play here. EUR/AUD has steadied again near 1.4800 and another test of 1.50 in coming days looks inevitable.
Back to JPY Trading Outlook Archive
