Dollar and yen stabilized a bit today. Asian equities are sharply higher following the 2.54% rally in DOW but somewhat failed to extend momentum further

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Daily Report: Markets Stabilized from Risk Rally, Focus Turning to ECB

When the AUD/USD broke below 0.89, it was completing a head and shoulder pattern. Conventionally this is a reversal signal.

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AUD/USD – Assessing Head and Shoulders

Price action on AUD/JPY (a daily chart of which is shown) as of Thursday (8/26/2010) has formed a large and clear triangle consolidation pattern bisected by a key support/resistance level at 76.00. This occurs after three weeks of general bearishness that dropped price down from the very top of the

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Chart of the Day – AUD/JPY