Got stopped out of this yesterday almost instantly. -1% No trades planned. GBP/JPY and EUR/JPY both strong after this AM. Retest of 171.80 is the spot to watch for me again.
Sounds like a good plan. In fact on the 4h chart, the EUR/JPY has completed a powerful reversal pattern, because it takes a LOT of buying interest to completely reverse a 125 pip drop with only one candle (see chart below). Personally I will wait for a pullback and buy the EuroYen.