JPY Trading Outlook (21-11-2013)
EUR/AUD reversed lower after the ECB mentioned ‘negative’ rates. It is still very much in rage-trading consolidation mode but selling rallies towards 1.45 is certainly the preferred strategy. AUD/NZD support at 1.1190 has held yet again and risk-reward would definitely seem to favour the buy-dip strategy. AUD/JPY took out short-term resistance at 94.10 but is now back below there and further sideways consolidation is favoured until something happens to take out major resistance at 95.50.
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