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AUD/USD bounces back yet again, USD/JPY fails to trigger stops

By   || March 16, 2010 at 01:58 GMT
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Looks like we might be close to a good buying level for AUD/JPY. AUD/USD dipped down below .9120 after the RBA minutes but the stay down there was short-lived and we are now back at the .9140 opening level. USD/JPY also tried to break lower and trigger stops below 90.15 but the bids there are seemingly quite solid.

The AUD/JPY daily chart tells a slightly different story. Any close today below 83.25 would suggest to me that a short term top is in place and that we should see a gradual move lower towards 81.00.

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