kalz. I think the USDJPY unwind is just about finished - we're currently in a holding pattern between about 117 and 119.25, will mabe stay there for a day or two while the carry traders rebuild their shattered nerves, then we'll see a big upside breakout and head back to 124 or maybe higher in the next 3-4 weeks.
Meanwhile, the pundits claim EURUSD is heading for 1.40 & the latest drop was maybe just a correction. Anyway, it heading back north. I'm in at 1.3692 - oops, it just hit my target at 1.3715, guess I wasn't ambitious enough. Well, 23 pips at 10:1 is 2.3%, not a bad return for 2 hours of not much work.
And as I write, USDJPY has just bounced off 119.25, heading south.
(Several hours later)
Bought back USDJPY at 118.99 and squeezed another 11 pips out of EURUSD. That's how I like to trade best: lots of short trades with modest targets, but mainly swimming with the tide. 10 pips at 10:1 = 1% profit, manage that every day and you'll soon be rich. Since the trading day started 6 hours ago, I've made 2.6%. Now I can get out of the market and go to bed happy.
(If only I didn't have to keep raiding my trading account to pay the bills ...)