Trade Rationale: This is really a technical play. Yesterday’s candle is a doji and it is at the falling trend line and 618 Fibo. I’m hoping risk aversion comes back and sends the pair back down.
Trade Adjustments: stop to BE when trade goes my way by 100 pips
I like this one. It’s got some hidden bearish divergence + stoch in over-bought territory. Trend is in bearish channel. Your stop loss might be to tight. Market sentiment via Oanda has AUD/JPY 76.33% 23.67% (long/short ratio), contrarian theory would confirm the short idea.