AUD,NZD/FXWW News/JPY crosses/Trade Ideas

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.

  1. Morning/evening Sean. Got a feel that this one will fail @ 90.10 highs and will fall to fill the gap from Monday opening at 87.50. That will of course depend on RBA , but r/r wise it’s worth a shot. Either way a buy at lower levels still looks a better idea. 86.50 looks like a medium term bottom to me.

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