Long off the 4h trendline for great RR. If you go down to the 1h timeframe you can see the trendline better since it doesn't look like much on the 4h....it's there though. not 100% sure on where to take profit yet but I plan to move stop to break even when i get up 30 and just see what happens. My overall long term bias is to the upside (see previous monthly...
Generally the AUDJPY respects the daily 200 SMA so the risk/reward on a short here is pretty good. Plus there is previous resistance and lots of traffic in this area to create some hesitation among buyers.
Possible double top and ascending triangle. Great risk/reward short here. Recommend 1/2 normal position size and stops ~ 104.00 since Fed taper decision later this month could spark some volatility.