Yesterday we pointed out the AUDUSD and mentioned it was attempting a weekly breakout to the downside. The pair got under 1.0200 but support at 1.0180 held and overnight we witnessed a some short covering that led led a sharp bounce from 1.0192 back  to highs around 1.0286 ( details of spending expectations  came in above analysts expectations and also there is a chance now of a March rate cut). Buy orders are now initially seen around 1.0255/65 with larger  down at 1.0200/10. Sell orders lie at 1.0300 with likely buy stops above, ahead of technical resistance at 1.0336( 200 day MA).

USDJPY- this pair also saw a sharp rebound yesterday as the DOWJONES was attempting to make new highs (Still a nice chance of that happening later today). It seems we are in a bit of a rnage now with 92.80 the top and 91.80 the bottom. I suspect a run through of 92.80 will get the bulls further on board for 93 plus. Under 91.80 the Bears will reagin strength. We will stay clear of this pair while it is trading in this range.

EURUSD Presently at 1.3145, marginally firmer from where it closed out in North America. There is talk of month end demand for the pairing which is holding the pair up so far. Buy orders seen clustered at  1.3100/20. Sell orders clustered 1.3160/80, with buy stops through 1.3185.
Should the US indices move higher today (we are trading near 5-6 year highs in the DOWJONES) we can expect further rising in the JPY pairs and probably EURUSD too.