AUD-JPY outlook april 30 2012

forex trading outlook today - AUD-JPY outlook april 30 2012 : AUD/JPY is back to where it was almost one month ago by beginning of April at 83.78. It's been a month and all the cross has done is go back and forth to as high as 84.76, around 100 pips higher than current quote, and as low as 82.59. The cross has been flat within this wide range in that time span.

The cross is currently off session lows at 83.70, and coming lower from session highs at 84.13, with Japan and China closed for holiday, and yen highest since Feb 28. All eyes will focus on tomorrow's RBA cash rate statement, with most market participants expecting for a 25bps rate cut to 4%, though few ones are calling for a 50bps down move.

Immediate support for AUD/JPY to the downside show at April 27 lows 83.53, followed by April 23 lows 83.29, and April 17/24 lows 82.88. To the upside, closest resistance comes at April 27 highs 84.50, followed by April 18/19/20 highs 84.74, and April 06 highs 85.20.

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