AUD/JPY: Forecast
Jason Sen | Dec 15, 2014 06:15AM ET
AUD/JPY key to direction is immediate resistance at 9860/70 again today. It may be worth trying shorts with a stop above 9900 but be ready to go with a break higher using 9870/60 as strong support for a move to resistance at 9950. Watch for a high for the day here but if we manage to continue higher look for a very good selling opportunity at 9995/100.05.
Immediate resistance at 9800 & failure to get back above here keeps the market under pressure. We are then likely to retest support at 9750/45. If we continue lower today, look for an excellent buying opportunity at 9730/9720 with stops below 9705.
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