7 Dec 2015

AUD/JPY BOUNCING LOWER FROM A YEARLY TRENDLINE

AUD/JPY DAILY

The rate is currently falling after almost touching a year-long falling trendline resistance.

I am now looking to enter a small short position and then scale in if the rate can break the medium term rising wedge pattern below 88.00.

Immediate target should be the the yearly lows at 82.00, however, a longer term target at 72.50 may also be achieved.



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