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June 29, 2012

AUD/JPY in a short-term channel breakout

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The AUD/JPY has been consolidating this week so far in a rising channel seen in the 1H chart. We can also see that it has broken below this channel since the EU summit got underway during the 6/28 European session. (Risk aversion from the initial market reaction put pressure on commodity currencies... FF News: Technical

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