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Trend of the Day - AUD/JPY

By Gregory McLeod,
30 July 2009 13:07 GMT

07.30.09_1

Aussie Yen like the other Australian crosses are trending higher. The earlier bounce near a 38.2% Fibonacci level is a sign of an aggressive bullish trend. Move to a lower time frame like a 4-hour to find better risk to reward entries.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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30 July 2009 13:07 GMT