Its almost too obvious to say, but take care with AUD over the BOJ announcement. Any disappointment with the BOJ announcement that sees yen buying will shift AUD/USD lower on the back of AUD/JPY selling. Like I said, almost too obvious to even say, but there it is. Goes for the other yen crosses too, of course.
Vice-versa – a good result for Kuroda that sees yen selling and AUD/USD might crack those offers ahead of and around 1.05 that have limited to the topside the past days.
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Levels to watch in AUD/USD:
- 1.0485/1.0505 is selling
- On the downside – there are buyers around 1.0440/50 (mentioned these already today).
- Further below, 1.0380/90 is support, stops below there.