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JPY Trading Outlook (20-08-2013)

CROSSES: EUR/AUD tested very important technical support near 1.4450 and bounced strongly and we should see increased top-side pressure in coming sessions (see chart). Prices now need to stay below 1.4750 in order for the recent topping formation to stay relevant.

AUD/NZD has started to look soft again and we are likely to get a test of recent support levels near 1.1200, and that might even happen today depending on what the RBNZ and the RBA have to say.

AUD/JPY has retraced back towards its recent support point at 88.70 and we can expect bearish momentum to pick up if 88.50 breaks.

Back to JPY Trading Outlook Archive

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