Heavy Yen cross selling is continuing to weigh on the EUR and AUD, as stops below 1.4840 are triggered, trading as low as 1.4828. Apparently there is some real money flows buying US dollars this morning which may mean there is still more to come. EURJPY buyers just under 135.00 have stopped it from falling further. Still stops are eyed under 134.90.
AUD has seen buyer orders at 9120 filled. Stops under91c, if triggered will confirm a short term top at 9270. Technical traders are also selling on the back of Friday’s outside day bearish formation.
