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Playing Risk off Through AUDJPY

By , Sr. Technical Strategist
30 March 2012 12:54 GMT

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Morning Notes:

S&P – 5 waves down from the 3/27 high and the subsequent recovery give scope to a sharp 3rd wave decline today/next week. Get ready for April showers.

Playing_Risk_off_Through_AUDJPY_body_spx.png, Playing Risk off Through AUDJPY

Prepared by Jamie Saettele, CMT

AUDJPY – The short term (and maybe long term) bearish equity pattern reinforces last night’s Yen crosses report. Resistance is 8610/60. Objectives are 8385 and 8285.

Playing_Risk_off_Through_AUDJPY_body_audjpy.png, Playing Risk off Through AUDJPY

Prepared by Jamie Saettele, CMT

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Jamie is the author of Sentiment in the Forex Market.

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30 March 2012 12:54 GMT