Today important event is Bank of Japan Governor Haruhiko Kuroda speaks that might changes the Yen weaken trend in the last 24 hours , Reserve Bank of Australia ( RBA ) is a quite day. Technically AUDJPY has no higher high and no lower low Ranges market looking at 4H Triangle is formed . The Bulls it is nice to see break up the 80.50 zone and pullback give an opportunity to buy. For the Bears wait for a break down weekly pivot point (WPP) 79.50 area and sell at pullback higher price.
The important part for the Trader is wait for the Plan to occurs but not front running the market , because we never know the out come . as long as the Bulls buy at resistance and the bears sell at resistance . The law of probability will give you positive Pips on your account. Many time the draw down is happen when a revenge entry on impulsive decision. Follow your plan an average of +50 pips daily is with in reach. One interesting observation is One month some days make no pips or draw down but some good days make good hundreds of pips to cover the draw down , maintain Positive thinking ALL THE Time . Do whatever it take to be in the positive mind set .
Happy and safe trading