EUR/JPY 9 JAN 2013 - 1HR Chart

Yesterday we grabbed some good pips on the EUR/JPY. According my analysis, we are still in the correcting phase (bigger wave 4) and the correction could end at around 112.50.

I recommend selling the pair at the current rate - 114.40

Take profit (TP) - 112.50
Stop Loss (SL) - 114.87

Wave count - Bigger wave 4 correction

Stop Loss at 114.87 was hit thus making a -47pips loss