amanpaulbhogal
Short

Shallow pullback on AUD/JPY

FX:AUDJPY   Australian Dollar / Japanese Yen
AUD/JPY             has broken previous resistance at ~92.14 and is returning back to test it in a very shallow pullback with also a confirmed bounce off of the 0.382 Fibonacci level. Currently, an hourly inside bar is in development indicative of a possibly stronger downward but continued move with the underlying trend. For more gingerly, and not aggressive trading, a retest of perhaps the 8 or 20 ema for a deeper pullback may also present a great shorting opportunity. The Fibonacci retracement levels, 0.5 and 0.618 appear very near to these two emas. If all fails, a retest of the 50 ema right next to the falling trendline is another opportunity to trade this pair short.
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