2/8/06 7:53 PM (EST)
Here is what appears to be setting up. Looks like EURUSD is heading towards my previously mentioned Price Magnet at 1.1985. That will help the USDJPY retrace to the 118.20 area, which would be a good entry because USDJPY has a Price Magnet at: 118.68. EURUSD also has a Price Magnet at 1.1958. So a short from the 1.1985 - 95 area would also be a good entry.
JohnFX
Here is what appears to be setting up. Looks like EURUSD is heading towards my previously mentioned Price Magnet at 1.1985. That will help the USDJPY retrace to the 118.20 area, which would be a good entry because USDJPY has a Price Magnet at: 118.68. EURUSD also has a Price Magnet at 1.1958. So a short from the 1.1985 - 95 area would also be a good entry.
JohnFX