Aussie Yen has a head and shoulders formation in play on the 60 minute time frame, shown below.
Chart below:
Price has this afternoon broken through the trend line shown in red and made an immediate new low.
I am look for a short entry on a pull back to the the trend line and the Fibonacci levels.
My entry levels and chart are below.
1st Entry: 96.25
2nd Entry: 96.40
Averaged Entry: 96.32
Stop Loss: 96.65
Target: 94.65 (5% and Daily 20 ema)
I will update again should the trade be triggered
Regards
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