This is an update to an AUD/JPY trade idea post from yesterday. The A/J has made a daily close below the key 96 level but does not look to be holding below this S/R zone for the time being.
The Nikkei is trading higher and other Yen pairs are putting in bounces off key S/R levels and so I am thinking the A/J may follow suit here. I’ve closed this technical trade for a loss of 20 pips but I may re-enter is the landscape changes.
The bitter irony for me here is that if I had simply entered straight when I saw my TC signal it would have scooped 100 pips before reversing.
A/J 4hr: 96 is a key S/R region but price looks to be bouncing upwards here despite closing below this key level:
