USDJPY has been in an up trend since mid August. For the past several days we have been testing the 108.5 area.
If we see a break lower here, I'm expecting 108 as a quick target, with room to 107.250. This move keeps us within the larger flag patter that USDJPY has been trading in since 2014.
I like Short here, mainly due to the sell off after the pop on news...
AUDUSD needs a bit more time to consolidate. It's currently forming a flag, after breaking up out of the down trend. I'm thinking it will continue to consolidate for several more days, then it will be time to start getting long for the flag break out.
As this flag forms, I give a higher probability that it breaks up and continues toward 1.3275. If this were to break lower, we could see a test of the long term trend line (green line).
