FX:AUDJPY Australian Dollar/Japanese Yen
It's quite possible that this market is heading for the nexus point that combines the grey upper parallel and the red sliding parallel off the April-2013 top to the left. However, prior to that there's the 50% retracement at 95.91, which is quite likely to put at least a temporary stop to the ongoing rally. Further resistance is probably coming roughly from those lows at 97.33. Support is to be found at prior highs at 94.47 - above it good buying opportunities may show up.
Yes, indeed. :-) My long position seems to be net losing now. I'm still looking to TP at 95.91, but I may have to wait for that longer or never see it hit at all. I don't know, this market may want to record new lows (ie. hit some stops, fresh blood) before it makes another rally (so those stopped-out bulls reenter and fuel the rally again).