With major stock markets selling off today, a short was taken on the AUDJPY. Both the AUDUSD and AUDJPY looked like attractive shorts when the U.S. session got underway. They both had moved down during the Asian session then recovered a bit. As they began to roll over in the U.S. session a short was taken in the AUDJPY risking 10 pips for a potential 33 pips to our daily target at 81.02. Our daily target for the AUDUSD was .7385 and thinking that it would pause at .7400 made the AUDJPY more attractive… with the 81.00 figure just below our target.
We were closed by our profit stop as the pair found buyers at it’s Asian low. Either trade would have been a good one.
Remember to keep protecting your profits by moving your profit stop regularly as price moves in your favour. The markets are particularly volatile with trade tariff talk heating up.
Good luck with your trading!
