Sometimes I get a gut feeling that something unexpected will happen. It's a rare occurrence because most of the time I get caught by surprise. On Friday the U.S NFP data came out and briefly sent the market into a panic. The high before the fall in the EUR/JPY was around 111.10. I had initially set my TP at 111.14 due to a trend line around 111.19. After checking in on my trade before heading to bed I noticed that the price had not once held above 111.10 in the previous 3 days. I decided to lower my TP down to 111.08. This single action saved me from being stopped below my initial SL level of 109.99 and reminded me how cruel the market can be.
The JPY pairs are looking a little to uncertain for me right now so I've decided to explore opportunities to sell the dollar. The USD/CAD is looking heavy and I have sold 1.0042 with a tp 1.0011 and SL 1.0074.
The 4 hour chart is looking very heavy with the pair unable to break 1.0080 so far. by the looks of the hourly chart support around 1.0040 looks prone to fail with 1.0020 next and 1.000 the last line until the mid 0.99 cent zone. I feel that 1.0000 will be tested but a 20 pip trail might be a good safety net.
P/L + -32 pips
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