EJ-sells in place

FX:EURJPY   Euro / Japanese Yen
58 0 9
I am runing one EJ             short from 11412. I entered this about an hour ago. This was at a critical point of resistance and whereas it does have a greater up AB boundary, I don't really have faith fundamentally that the BOJ is any good at weakening their currency and believe that the markets will continue to use the yen as a safe haven as we move into the fall and the winter. Now, I am not heavily leveraged on this simply because I do not know what it is going to do and frankly, I am selling low in the greater scheme of things. I have 80 pips on the trade and am taking half off now and pulling to break even. We will see what this does tomorrow and if we break lower than 112/111 area, I believe we will be clear to sell to 105.20. So, it is an excellent one to keep an eye on and I will keep you posted of the progress. If you need fibs, or other charts, just message me. Happy trading!!!!!!!!!!!!!
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