The US retail sales data was postponed until tomorrow, which means that we get that on top of consumer sentiment on the Friday of a rather sideways week of trading with a bias toward the upside. Last week’s unemployment number was not as bad as the market made it seem, in fact they were actually very positive. So, look for opportunities to buy the risky currencies against the dollar and yen, especially around the US open.
AUDJPY poses a good opportunity to play this sentiment. There is some short terms support near 79.60 which present a good buying point, but be weary around the 80.40 level, as it could pose some resistance. Additionally, the pair now trades above its down trending highs that began in mid January.
