(J) Trade 3 : Speculating on a Rebound of Support #forex

Update : Target reached without triggering entry.. Trade Cancelled.
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Trade 3: Pending Long AUDJPY @ 94.65
S.L @ 93.95
T1 95.60
T2 96.75

For 29,400 Balance, and 2% risk per trade=$588, Position size = 1 lot ( 0.5+0.5)
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Reasoning:

• Short term up trend , higher highs and higher lows is still intact as the latest swing low at 94.57 is holding so far.
  
• That low coincides with 38.2 retracement level for the latest bullish wave
  
• 50-days SMA is forming another potential support
  
• We have see two pin bars today and the day before.
  

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