AUD/JPY buying emerges in early Asia

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Some very decent AUD/JPY buying has emerged in the last 30 minutes or so; I hear there might be more to come.

There is short-term technical resistance at 98.00 but there will be stops above there.

steven says:

May 31, 2013 at 9:01 am

Hey Sean,

Would you expect the 98.00 resistance to hold? Could you see some opportunity to jump in if the value starts to drop off again from the high 97.74 its currently at?

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Sean Lee says:

May 31, 2013 at 9:03 am

Don’t see much value at current levels Steven, if buying continues in these thin mkts then AUD/JPY will trigger stops above 9800 and audusd will btrigger stops above 9720. Patience reqd I think

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