Chart of the Day: EUR/JPY

The JPY is gaining strength and the EUR appears to be one of the weaker currencies right now.

So we look to the EUR/JPY for a sell setup. We’ve talked about quite a few approaches to time the entry with another being waiting for a candle to close below support for entry and then placing your stop above support. We should still look for twice that risk in profit for our 1:2 risk:reward ratio.