The Aussie Dollar has been clinging to the support of its 200 period moving average in the 4 hour chart. While it's hung on so far, the trend has been flattening out and a triangle pattern is forming. This might be useful for traders looking for a logical framework to develop entry strategies around this situation.

AUDJPY Chart Triangle

AUDJPY Triangle

Click to enlarge

I don't know how readers see things, but to me this triangle looks most like a pause in a downtrend that has further to run.

With that in mind,  the boundaries of the triangle might provide a couple of alternatives for a sell strategy

1. Sell on a confirmed break below the triangle support. If things were to pan out this way, a clear breach of the triangle support could be used as potential confirmation that price was breaking below the support zone of the 200 period sma
2. Sell if price makes another minor trend peak at the triangle resistance, placing a close buy stop above that resistance.  This strategy involves a "testing the waters approach" positioning early for an eventual break below the moving average but with a close stop loss.