AUDJPY With Bollinger Bands

Lately I've been trading the AUDJPY using only an EMA (exponential moving average) and SMA (simple moving average). The theory is that when the price is below these averages it will at some point return above it. This is generally true, even during a downturn, but especially so during an upturn.

I have been seeing some success with this, but it does have me hanging onto losers for some period of time, so that they again return. I continue to have trouble dumping a loser as soon as I recognize it as one... and it is probably something I should be working on.

In any case, I've added Bollinger Bands to my 5 minute chart. It seems to give an indication of when a price movement has reached the limit of movement with respect to recent volatility. While it is always important to realize that the past does not guarantee the future, it does give you an indication of timing with respect to entry and exit points.

Again, keep in mind that I am happy to accumulate carry positions in AUDJPY. This greatly colors my strategy and how I trade.