jbourgault
Short

AUDJPY bearish breakout. Wait for retracement then go short.

FX:AUDJPY   Australian Dollar / Japanese Yen
19 1 0
JPY is going back up. And that move could last for quite a time if the market start to going back into ungly mode (watch OIL             , Indexes and China).

AUDJPY             is a good pair to trade (since both pair are strongly inverse correlated). A bearish breakout happended. Wait for retracement then go short.
The correction might is already over..and given the small retracement, the next leg down could be significant.

I would monitor a breakout of the previous low as a safe entry point with stop loss around 84.
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