AUDJPY - Shorted on 071022016 morning - CLOSED WITH LOSS - 1 PERCENT

Shorted this on the morning.
Reasons for it.
- h1 seems like a double top.
- AUDJPY had previously turned at this resistance level before
- AUD seems to be weak(er)
- next major news - which would be China news would be next Thursday (China Trade Balance)
- AUD is a commodity currency, it will fade with dollar strength.
- losses are limited (money management) - 100 dollars
- yen should be headed for a turnaround

Reasons to cause a loss
- dovish interpretation to NFP numbers

if this is the case, what can be done to hedge this?
I got to think.

NOTE; AUDJPY GOT STOPPED OUT ON 13102016 THURSDAY MORNING

Yeah, it was pretty crummy.
AUDJPY turned around and turned into either a channel or a triple top.
Who would have thought it?
In addition, I moved my stop loss to riiight at the top. Hindsight. Please move stop losses a bit further from recent highs (e.g. 5-8 pips higher). Do not put stop at the high exactly.

Reflection: Put stops a bit past the highs. (and plan for that in the sizing)