FX:AUDJPY Australian Dollar/Japanese Yen
Would like to see the channel hold and a new break below the thin dashed line
Good Question. I may hold my shorts if the upper line is broken, in this case. If my count is correct we are on wave 5. Each wave has 5 waves, so wave 4 of 5 could break to the upside. I then would look at fibos and wave count to see where it would go. This is if I had entered before. I did enter last month. On this chart you see a thin dashed line that's being the support now but I expect it will break that like do the downside. If it breaks up from this red channel I'll exit.