My EUR/JPY Trade (25-04-2008)

*Attached chart (Before). Click on it for the enlarged version.

Hello everyone,

I shorted the EUR/JPY today (25-04-2008) at the price line of 163.54 at 11:46am (Singapore Time) | 3:46am (GMT).

Fundamental wise, EUR weakness. Technical wise, price action. Support by 1hr chart Slow [Ash C Wave] down, Fast [Ash C Wave] Kissing, [Ash Cross Over] down.

Stop Loss at 163.77 (23pips) and Target Profit 162.70 (84pips). Risk : Reward = 23 : 84 = 1 : 3.6

Currently, market has mover a bit in my favour at least enough room to shift my Stop Loss.

My Stop Loss has been shifted to Protective Stop at 163.53 (1pip in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...