AUD/JPY Short

AUD/JPY OANDA:AUDJPY

jeromecordova

If you look at the AUD/JPY weekly you can see a clear downtrend. Each downward push has a retracement back to the 0.5 level on Fibonacci retracements. The current weekly candle appears to be a candle at the 0.5 retracement area. This area along with the weekly camdle closing as a doji candle gives a high probability of a shorting opportunity acutely and over the next few weeks. I will likely take profit at the first support level listed. However, will travel south of 70.00. Great opportunity

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