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Forex pairs in this Article » AUD/JPY
By: DailyForex.com


Short AUD/JPY between 0.8981 and 0.9030 if the price reaches this level before Midnight GMT tonight. Take 85% of the position as profit at 0.8850, move the stop to break even and allow the remainder to run with no fixed target for the time being.

Day traders should wait for the price to return to 0.8981 and look for trades from fast short breaks of inside or engulfing bars on the 15 minute chart, being prepared to enter more than once if necessary, but not more than three times. After one 15 minute bar closes above 0.9030, the signal is invalidated.

Traders that cannot be near their screen should set a limit sell order at 0.8981 with a stop loss at 0.9040, expiring at Midnight GMT tonight.

AUD/JPY Signal Chart

Notes:

1. If todays' AUD/USD signal is also triggered, bear in mind that both the trades have AUD risk in the same direction, so you might wish to make the second trade a smaller position size.


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