Pair: EUR/JPY
Timeframe: 15m
Direction: Short
Price: 161.01
Target: 160.41
Status: Closed (10 pips, I knew it all along that this wouldn't be a lucrative trade. EUR/JPY has remained relatively ranging for a number of reasons, many of which are likely exhausted or soon will be. I expect financial markets to settle down and for risk aversion to recede in coming weeks and this should see a return to buying of JPY-crosses. I won't even mention that the Japanese economy remains largely stagnant and market forecasts are beginning to focus on BOJ easing as the next most likely interest rate move.