Thursday, November 15, 2012

AUD / JPY Update: Thursday 15th November 2012 18:52hrs

AUD / JPY

Price has remained supported throughout the day.

Yesterdays high has been taken out and the position is in profit by 2.5% at the time of writing.

Price needs to make a new high through 84.15 before making its way up to 84.95 our 5% target.

If and when price gets to the 5% target, I may consider holding the position. There is nothing on the chart that is saying price will be rejected at this level (94.95) so it would make sense to hold for as long as is possible. However we need to break up through 84.15 first.

Chart below:



I have moved the stop loss to 83.25, however I will review this and may move it higher to lock in more profit before the end of the day.

Have a good evening

Regards

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