I’ve been hesitating shorting the yen pairs and especially EJ has kept going down. It is clear that we are in a correction, I can’t say how far we’ll go. I’m waiting for a correction, but have decided to enter half of my allotted order size here. If we do get a bounce, I’ll enter more short again.
Short $110/pip EURJPY at 124.78. Stop at 125.50.
I hope the correction does not come in the next 4 hours as I need to catch some sleep!