I'm entering 1/2 position short AUD/JPY @ 92.20 and 1/2 position @ 92.40. Both entries will have a 93.00 Stop loss and 90.30 take profit for now. I have us completing wave 3 of A up on larger timescale charts. Zoomed in the 3 wave is in it's final 5th wave.
Chart:
Zooming in on completion of the iv wave on the chart above gives us this picture:
So I'm expecting at least a 4th wave down. Proper take profit levels can not be established until completion of the 3rd wave, so I'll keep you posted on this trade.
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