AUD/JPY: Taking some profit off the table
I’m lucky that I got into this trade at a really good average entry and so I’m happy to start booking profits after a nice 230 pip run. I’ve sold smalls at 89.60 and will look to sell some more near 89.80, just to lighten up ahead of retail sales and RBA. (Edit: Offer filled at 89.80)
If it breaks straight higher, then the double-bottom will confirm and I will revert to dip-buying mode.