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Sunday, May 17, 2009

Buy AUD/JPY

The AUD/JPY has been on decline as fears in the market grow and people become risk averse, but I am expecting the AUD to bounce and recover slightly.

Buying 1 unit of AUD/JPY at 70.80, and another unit at 70.45 if it gets that low. Stop loss will be at 70.30. Plan to take profit at 71.65 for the first unit, and at 72.00 for the second unit.

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