A fairly uneventful session has left AUDJPY coiling even tighter following the 650-pip rally that commenced on March 1st. I commented on the pair shortly after it began its ascent, noting the two channels I was keeping an eye on at the time. You can read that commentary here. The larger of the two structures shown in that commentary is still intact. The upper boundary of that channel now resides near the 87.00 handle (shown in the chart below). Since topping out on March 14th, the pair has consolidated into what could become one of two very different patterns, neither of which has confirmed just yet. On the ... READ MORE
