Today is last trading day of April , summer is coming and trading volume will be tapering off . Number One rule is Capital Preservation . Bank of Japan No Action curtail the trader that front run BOJ decision , it took trader 18 hours to raise USDJPY 250 pips but yesterday it came down in One minutes .No more important news from Reserve Bank of Australia ( RBA ) nor from Bank of Japan ( BOJ ) . Rate decision from RBA 3 May 2016 14:30 AEST. BOJ Summary of opinions 12 May, 2016 8:50 Tokyo time.
Market has price in 58% of probability that RBA will reduce the rate to 1.75% . If trader front run the RBA decision there will be more downward pressure for AUD pairs. For the bear it is nice to short near weekly S1 83.56 + 4 H 21 as a resistant target at WS2 81 area . For the Bull weekly M1 + Psychological level 82 as a support to look long opportunity .
happy Trading and have a wonderful week end.