Technical Trading Tips and Techniques by 
(Please click on the accompanying chart to enlarge. Chart is courtesy of FX Solutions.)
As shown on the accompanying AUD/JPY daily chart, price has been making a major rebound from the extreme depths of just a few days ago. Right after price reached an historical low of around 55.00, the pair turned on a dime to rise around 1300 pips as of early Thursday morning (10/30/2008) in New York. Could the carry trade finally be on stable ground again? Or will we be seeing even lower lows within the foreseeable future? On any continued upward momentum, price could eventually be targeting the key 72.00 resistance region.