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JPY Trading Outlook (03-12-2013)

Another very busy day on the AUD crosses with AUD/NZD rejecting the 1.1200 level and returning to bear-mode but pairs like AUD/JPY making decent gains. AUD/NZD seems certain to test large optionality at 1.1000 in coming days. AUD/JPY has been trading sideways for some weeks and really needs to break above the 200-dma at 94.40 in order to gain fresh momentum. EUR/AUD is starting to look bearish having rejected levels above 1.50 yet again.

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