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Forex Trading StrategiesQuiet Asian session after US data Friday
USD/majors traded in tight ranges through today's Asian trading session after gains made Friday, despite the lower then expected NFP.
MAJOR HEADLINES â€“ PREVIOUS SESSION
Japan's Coincident indicator rose to 100 from 70 and the Leading indicator from 54 to 80 which gives reason that the economy will keep on expanding.
AUSTRALIA: ANZ newspaper job ads -0.9% in Jan, but Internet ads +6.2%.
Key movement in Asia was the key selling of AUD, NZD and GBP against the JPY with particular focus on GBPJPY which took out Friday' low and looks to head much lower to a test of 207.00
MOF official is quoted as saying FX would not be on agenda at G8 meeting in Moscow on Feb 10/11. The comment is same with Watanabe"s remarks on Feb 01.
THEMES TO WATCH â€“ UPCOMING SESSION
Interesting levels were taking out Friday in both EURUSD (1.2000), GBPUSD(1.7633) and USDCHF (1.2940) and we look for this trend to continue early this week with Friday's US trade balance giving final confirmation on the medium term trend for these key pairs.
Note: the support/resistance levels used in the matrixâ€™s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
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