Trade Review: EUR/JPY

As you can see, after the BoJ statement the pair whipsawed up and then made a move down. The BoJ announced an end to their quantitative easing policy, which could possibly lead to a raise in the interest rates, which hasn’t happened in like a gazillion years(ok, maybe not that long). With an announcement like that I would have expected a much stronger move. It took it about seven hours to reach the S1 line, so I went long at 139.85 and my 10 pip target was hit two bars later.