ChaosTrader63
Short

AUD vs JPY Short Trade 8-20-13

FX:AUDJPY   Australian Dollar / Japanese Yen
138 0 1
Looking at the AUD vs JPY on the 4 hour time frame we can see price breaking to the downside of the Kumo Cloud which is acting as a support level . Once price closes below the Kumo we can enter our trade. Looks like price was trending downwards hitting the 86.500 level before retracing just over 50% of the previous move down at 90.00
Price has since continued it's downward trend breaking through the Kumo. I am expecting the market to move to the next most recent support level at 86.500 just below our profit target. Have a great trading day and God bless!
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