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Forex Flash: Short term bullish risks on the rise for AUD/USD - JPMorgan

The short term upside risks for both AUD/USD and NZD/USD have increased but still within the context of the medium term consolidations, notes Niall O'Connor, FX strategist at JPMorgan.
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Forex: GBP/JPY finishes slightly lower as recent consolidation continues

The GBP/JPY traded in a narrow range, closing the day down 12 pips at 151.51. Japan released Industrial Production and recent Unemployment rate figures earlier in the session but the effect was minimal. Currently the pair is slightly higher, up 7 pips at 151.58. The pair has been consolidating on the daily chart over past week with neither side being able to establish enough of a move to set the next major trend.
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