TRADING UPDATE 14 June 2012 @ 14:10, I'm going to leave talking about the news today, and give a more in-depth view of my trading outlook. This week, the price across many of the instruments I trade has been travelling sideways. Those bands have been reasonably large, and the price has also been coiling, and as such those bands have been getting narrower. In spite of the recent gains / pullbacks seen for AUD, GBP, and EUR, against USD, and JPY, since the recent 01 June ’12 lows, technically and fundamentally, I still consider the bias to be to sell. I have opened a sell position on AUDJPY because it is close to my daily trend line resistance, which starts at the peak on 19 March '12 and runs down and touches the peak on the 27 April '12. There is also horizontal resistance around 79.70. The two aforementioned trend lines intersect at present and provide confluence resistance. The price would have to have a lot of buyers to get through, and I would consider that a swing is likely if these price interest points are breached, and hold. My stop for the AUDJPY sell is placed 30 points behind the horizontal resistance. If the price finds more strength, and my AUDJPY deal is stopped out, I will reverse the direction and open a buy. I also think that if AUD can punch through the current resistance, that GBP, and EUR crosses are likely to see further strength and I will open long positions on these currencies also. If AUD does start to sell off, I will look to add GBP, and EUR sells. Next update tomorrow 15 June 2012. Best wishes, John.