Graph Editor X Location moves on Z axis


I have an armature with IK bones rigged. I placed some location keyframes on the timeline. When I go into the graph editor and try to move the graph for “X Location” the actual bone moves in the Z direction. The "Y Location will move in the X direction and the “Z Location” moves the bone in the Y direction.
Anyone have any idea how this could happen? (or how to undo it). I tried rigging up a fresh test on a new test mesh and the axis match.

Thanks in advanced.