AdrianRaymondFX
Short

Short opportunity on AUD/JPY

FX:AUDJPY   Australian Dollar/Japanese Yen
The aussie-yen cross tested a trend-line resistance at 93.30 yens Friday, and price action before the week's close suggests renewed selling pressure starting on Monday. 91.80 and 90.80 seem like plausible targets for short positions below 93.30. If the TL resistance breaks, however, I'd be rather bullish with an initial target of 94.50 given that prices are attempting to bounce off of a long-term TL support extending from the 2009 lows. Watch this pair on Monday.
Price action today has invalidated my strategy. This pair is now bullish with an initial target at 94.50.
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