As we move deeper into the second semester, several JPY pairs are most likely changing trends, for a variety of reasons. Of course, volatility and news will impact along the way, and I am expecitng to see a lot of consolidation at some point.
But for now, price action is telling me AUDJPY just broke an important support trendline and due to the uncertainty in markets I have adjusted my strategy to shorter term trades (less profitable per trade, as I maintain the risk parameters intact) but more frequent (more decisions also mean more errors, so need to be very ninja here and understand when to stay out of the market).
I opened a short position on AUDJPY too.
But for now, price action is telling me AUDJPY just broke an important support trendline and due to the uncertainty in markets I have adjusted my strategy to shorter term trades (less profitable per trade, as I maintain the risk parameters intact) but more frequent (more decisions also mean more errors, so need to be very ninja here and understand when to stay out of the market).
I opened a short position on AUDJPY too.
