JPY Trading Outlook (11-09-2013)
CROSSES: Yesterdays reversal in the AUD crosses was very short-lived and the AUD made fresh short-term trend highs against the EUR and the JPY. AUD/JPY is going up the elevator and down the stairs, typical of a strong up-trend, but resistance levels will be firmer near 93.65/70 (see chart). Next support levels in the EUR/AUD are near 1.4190/1.4200.
AUD/NZD remains in sideways mode but buying dips still favoured in short-term for a test of 1.1760.
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