EURJPY cross was under heavy pressure since early Asian opening as the Yen and the dollar strengthened ahead of today FOMC announcement.
There is a general feeling that the FED will tightened its monetary policies earlier than anticipated.
The yen fall from its high in early Asian session at 135.98 to its low during early London session at 134.07.
It than reversed the southward direction and I waited for a pullback to enter. Pullback occurred at 9:00 GMT and at 9:10 GMT I enter with all indicators showing “buy” signal”. Refer to the 1 MTF chart below. My entry was at 134.40 with target at least 30 pips (134.70). EURJPY touched the 200 ema (the red line) at 134.73 and I exited.
