AUD session outlook

Obviously the rate decision is the big risk event today and I’d expect the market to stay relatively quiet ahead of that. AUD/JPY is the pair most likely to move sharply, with prime broker reports suggesting that there have been big build ups in carry trade longs over the last few weeks. I’d expect that there will be plenty of stops now below short-term technical support at 85.20. Resistance in the cross should be very solid near 86.20.

AUD/USD looks like it should stay between 1.0390/1.0440 pre-RBA.

  1. Good morning sean.

    JPY bulls are on march now and I can hear the “drums”……

    I have shorted AUDJPY at 85.67 with stop loss 86.48(above recent daily highs. A 4H close below 85.35 will be the first dose of confidence for me.. A close below 85.20 will a boost

    Still holding USDJPY short from 82.32 (23/11/12) .

  2. Am dying with envy as am in a remote village with v.poor conexion.Enjoy all yen bulls out there.Queue dollar bulls.Using my smart fon but hoping to access my chart by some strange hand of luck 🙁

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