Australian GDP will be the main risk event and any number significantly higher than expectations will increase speculation that the RBA’s rate-cutting cycle might be close to an end. For now I see resistance in AUD/USD near 1.0280 (see charts in members) and in AUD/JPY near 96.00.
I see levels around 122.50 as being pivotal in the short-term for EUR/JPY and we might finally get a test of these levels sometime today, but I’m not overly hopeful as many traders will stay away ahead of the ECB tomorrow.
USD/JPY is in sideways consolidation and its hard to see where the movement will come from today.