JPY Trading Outlook (02-10-2013)
CROSSES: AUD/NZD finally had a very strong bounce after lows near 1.1200 held yet again. Local banks reported a variety of names suddenly appearing to buy this pair yesterday suggesting that there is a lot of underlying demand near these levels. AUD/JPY is in consolidation mode but I definitely prefer the buy-dip strategy here, as long as technical support levels 90.00/50 remain intact. GBP/AUD couldn’t quite muster enough momentum to test recent highs at 1.7500 and looks like it’s started to retrace.
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