The Dollar Down Under and the Land of the Rising Sun Yen has a strong setup with the Major Pivot Stack in place for key resistance.
The path of least resistance is down for the Aussie Dollar Japanese Yen crossrate.
Look to go short below the low of the current session 77.460 and place a stop loss at 78.517. With a profit target retracing the steps of the recent flash crash move to 72.590, this provides a very good risk reward trade.
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The initial setup is void with the formation of new pivots.