AUD/JPY is opening the session pretty close to important resistance at 85.20. I’ll post some charts in a few minutes but if this levels holds then there is the possibility of a right shoulder forming. I’m gradually building a short position as we near this level and if hourly tops start to form then I’ll feel more confident. Obviously any move back onto the 86 handle will negate my strategy. GBP/AUD is also trying to form a base and I’m not sure what sort of an event might instigate a sell-off in the AUD but I’m treating this as a purely technical trade.