Reserve Bank of Australia ( RBA ) Minutes of monetary policy meeting release yesterday push up Australian dollars by 100 pips+ , but as usual slowly it will come back down to where it start. Japan GDP release better than market expected and it push the Yen pair down south. The Japan Times economy report that Japan current surplus doubled last year (2015 ) on cheap oil and surge in travel surplus . The average Japan household savings in 2015 hit record Y 18 million , it is the highest level since official begin compiling .
Looking at Daily yesterday candle wick will appear as it hit the daily 21 For today looking more at 1 hour chart
Asia start with a bearish tone on this pair , the Bear will look for pull back 382 to 618 on today drop and continue selling around 79.5 area. The Bull will be interested to buy at support area Daily S2 78.5 – 78.9 area . Happy anf save trading