Dear Price Action Traders

The trade from last time has been stopped out. The price is showing some hesitance and a lack of direction. Unfortunately, the summer season proves to be a quite a volatile one for some instruments and not so volatile for others. I still believe there is a bullish bias in this pair (GBP/USD), but it might take some time before further positive bias.
On the other side, currently I am looking at a less traded currency pair- AUD/JPY. The great thing about price action is that there is no bias and the trading signals are coming from all markets. The day was marked by short-selling and buying, culminating into a pin bar- like candle. After bouncing off the 90.00 area, I believe that there is some more bullish action to come. My entry for today would be set at: long at 91.70. The stop loss should be placed just under 90.90. The first price target is the level of 92.50. The next one (depending on price action) would be the level of 93.50.
 
Happy Trading,
Colibri Trader
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