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JPY Trading Outlook (13-09-2013)

CROSSES: AUD/NZD reversed very sharply yesterday with the NZD getting a boost from a more hawkish than expected RBNZ and the AUD suffering due to jobs data. My expectation of a test of 1.1760 is looking less likely but the bears need to break below 1.1150 to generate more momentum. Range trading favoured. AUD/JPY broke below its consolidation level and I’m looking to sell rallies towards 93.00 for a test of 90.10 in coming sessions (see chart).

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