AUD/JPY 240-minute Swing Short

My initial sell limit is waiting with 1/3 of my overall position size at 81.90...and while it does look like - for now - the 81.50/81.55 area is holding as near term resistance, I would rather wait for a push higher and get short against the major "00" psychological level...even if that means I miss an opportunity to short.

More aggro traders could consider a momentum entry based upon the 60-minute time frame and its consolidation...the MACD-H is creeping closer to a negative reading which would validate a short sell if prices break below the 20 period SMA close.

Follow me on Twitter for more updates, links, and members only updates.