Profit target of 157.38 met from opening sale at 161.10. At this time, I expect the pair to reverse and return to fill in more of the cave shown on the 1/13/08 post J-Chart. I say it is safe to buy here (currently 157.28) with tight stop loss of 157.18 or 157.08.
The J-Chart service has been down with the CME Globex crash of 1/14, so I am reluctant to project lower targets if the pair continues to fall. Nonetheless, eventually the cave will get filled.
Tuesday, January 15, 2008
EUR/JPY Short Position Closed for +380 Pip Profit
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