Monday, December 3, 2012

AUDJPY Trendline Short Trade AUDJPY Short Trade
Its resistance-turned-support scenario on H4 charts.

The trendline is in place since last week of Oct and was a good resistance on several occasions. The same trendline, after upside break, has become support. 

The price is failing to make new highs, but as long as price is above the trendline, more upside is open. 

Setup calls for downside and I will be watching this trendline. I plan to go short on a break and hourly close below this trendline.

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