AUD,NZD/Technical Analysis/Trade Ideas/USD/JPY

AUD/JPY: Increased short position in play

I sold this pair on Friday last at a 61.8% Fibo retracement level near 102.85 and we now have a double top forming at this level (see chart in members). It looks like this pair might be ready to accelerate lower so I’ve increased the size of my short position, targeting a return to test levels near 98.70. My stop-loss is at 103.05.

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