With the long Easter weekend in many financial centres, markets are expected to be quiet and Asia usually does not need a second invitation to have a long breakfast and a long lunch. The sell off in EUR/JPY looks to have been arrested for now and we should settle in for some broad consolidative range trading below the 200-day MA at 137.00. Sovereign interest to buy the AUD/USD is outweighing the fact that the market is sitting long, after healthy buying from model and momentum funds over the last month. This pair is also expected to range trade between .7000/.7250.
Good luck today.
