Saturday, April 18, 2009

AUDJPY: Weekend Recap

I don't really have anything new to add since Forex markets are closed for the weekend.

We are still constrained within what appears to be a consolidation pattern. We are approaching the end of the pattern and the bollinger bands on my 1hr chart are collapsing.

I've also got a nifty new screen snipping tool that I wanted to try out... ;)

400x265 snip
While I do remain long term bullish there is a lot of noise in the markets about a need for correction given the recent run on wall street. A correction, or a return to risk aversion, has a high probability of forcing down the AUDJPY.

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