theforexportal
Short

AUD/JPY could be heading lower

FX:AUDJPY   Australian Dollar / Japanese Yen
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AUDJPY has a top heavy and hanging look and looks to be easing back down to support at 85.60 area.
The 200sma on H4 lies 20 pips away from the current price and this looks a severe test for AUDJPY BULLS. Quite a lot of negative AUD sentiment around which will not help any LONG positions. Bit unclear at the moment this pair bit a drift under 85.15 would confirm the medium term SHORT bias.

Trade idea.
SELL under 85.15.
Look to SHORT at 86.52.
A break and hold above 86.52 may present a LONG opportunity
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