APosner
Short

$AUDJPY "Flag" coming to an end

FX:AUDJPY   Australian Dollar / Japanese Yen
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From a larger time frame perspective the AUD has been falling against the JPY since 11/24. There are a variety of fundamental elements that caused the JPY weakness to pause including falling commodity prices, a failure of the JCB to continue weakening the Yen, and growing concern about an economic slowdown in China especially in real estate.

Looking at the chart the Aussie had a chance to rally up against the JPY but that rally was short-lived and price has been selling again. Once this short term “flag” has completed I expect the AUD/JPY pair to resume its downtrend and ultimately return the lows of 10/2014 in the 92 price area.
I exited the trade for even since the premise of the trade ended. Watching it on larger time frames as well.
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A spike up just occured due to positive news from down under. What are your thoughts after that spike up?
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