May 10, 2013
Forex: AUD/JPY still consolidating within ‘pennant’ pattern on daily chart
The AUD/JPY finished the session up 87 pips at 101.55. At one point the pair traded as high as 101.55, but was unable to main a firm bid at these levels and drifted lower later in the NY session. In what has been a busy week of economic data released out of Asia, we will see one more major report with the RBA Monetary Policy Rate due out at 1:30GMT. The pair is currently trading slightly higher in Asia trade, up five pips at 101.55
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