The pair is throwing up some nice pinbars at the HUGE psychological point of 120.00. This level seems to be what the target has been all along and I am willing to bet now that it has been reached we will see a pull back with some consolidation. A stop right above 120.00 is in place, a sell order at 119.80 will get me in the position and the target will be right above the support line at 119.15. Draghis failure to suggest more strongly the idea of QE
may continue to push eurusd
higher, which will in turn push usdjpy
down. NFP is tomorrow, if it is another dissapointment we would really see the usdjpy
longs start to unwind.