Market commentary for AUDJPY from 11 to 15 December 2017

The probability of AUDJPY seems at the bearish market for this week. There are number of reasons below:

- The market is respecting downtrend
- Pin bar at resistant areas on 5 December 2017 and on 12 December 2017, the market reverses back to Fibonacci Retracement 61.8% of the pin bar.
- Pin bar is below EMA 21 and 50, the EMA 50 is crossing over EMA 21.

Market planning:

Entry: 85.58
SL: 86.30
TP1: 84.50
TP2: 83.70
TP3: 82.80

When the market hit target TP1, close 50% and trail stope lose to entry point and do the same for TP2 and TP3.