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JPY Trading Outlook (18-10-2013)

The AUD crosses were busy yesterday, with AUD/JPY falling heavily first on comments from the Chinese commerce minister that growth will struggle, but recovering sharply when the prospect of any US tapering seemed to recede. This pair is still being capped by strong technical resistance 94.45/65 (trend highs and 200-DMA). EUR/AUD still looks bearish but it’s already fallen quite sharply from interim highs and no point in chasing it lower in my view. AUD/NZD support levels near 1.1300 still holding.

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