AUD,NZD/FXWW News/JPY crosses/Trade Ideas

AUD/JPY likely to be the key intraday mover

  • Strong technical resistance at 89.00 in AUD/JPY.
  • AUD positioning remains at extreme short levels, although un-wind seems to have begun against most other majors.
  • Market remains bearish on JPY and will not need much persuasion to buy AUD/JPY under the right conditions.

I’d suggest waiting for any technical break to occur and then looking for dip-buying opportunities. Alternatively, AUD bears will find good risk-reward in selling a failure at 89.00 with a tight stop-loss.

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