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.

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