Stop is at 132.868.
Stop will be moved to B/E on achieving target 1 as usual.
The thinking here is that the from the Nov 2012 swing low to the Apr 2013 swing low has switched from being support to being resistance. On the last rally the resistance wasn't even tested, the horizontal S/R from the weekly chart dominated instead. Meantime the alternative uptrend line was providing support but was under pressure for all of the last month or so, and on Monday it broke. Monday broke Friday's low during the Asian session, so around lunchtime Tokyo I placed a short entry at the low of the day so far. That was stopped in on Monday night.
The market may go sideways for a while with NFP on Friday; my stop is far away so I can afford to be patient.
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We have now closed back above the trend line whose break gave me permission to sell in the first place. Normally I would close here given we are 2 days in and closed back above, on the assumption the market will continue higher and would eventually hit my stop. That's still entirely possible with this trade, but with NFP tonight we may see some market madness that eventually returns EURJPY to a downward trajectory. My stop is still far enough away to have some chance of surviving the NFP initial spike, especially if we get some sell off between now and then. So on this occasion I am going to hold on.