QuileHills
Short

AUDJPY Short Analysis Number two

FX:AUDJPY   Australian Dollar/Japanese Yen
104 0 3
I'm beginning to think that this major channel resistance may be so strong that a break of the more minor channel support around the major channel's resistance (around 86.952) will send this pair tumbling like a rock.

If we reach this resistance while maintaining the minor channel I will set up the short entry as shown with an R:R of 12.24 down to the 100% fib intersecting with the major channel's support. This task seems much less daunting with the view on the daily charts .

If this works out I'll be securing profits along with way with a wide trailing stop.

Look for this action to take place mid next week (April 5th/6th) for entry.
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