AUD/JPY (Short)

AUD/JPY, Daily

Long or Short: Short
Entry Point: 100.680
Stop Loss: 101.000
Profit Target 1: 99.200
Profit Target 2: Objective open
Trade Explanation: Fundamental - Aussie has been sold off, price should remain under pressure even in view of relief; and with equities still at a high across the world, should risk aversion kicks in, this AUD/JPY cross likely to provide a double whammy.
Technical - Price action broke out of the wedge pattern to the downside. As trading nears close of week, the PT1 targets bottom Ichimoku cloud at 99.200. PT2 will be kept open should price action shows downside momentum (on Weekly, MACD has shown a crossover).
SL has been moved to BE, currently at +80 pips.

Trade closed for +60 pips @ 101.000, no follow through as Yen sold off (in USDJPY)