EURJPY +5.26%

Reason for placing the trade: we got some nice momentum to the upside after price had previously respected the descending channel before the close on Friday. Its always risky trading a market open but this one paid off, I entered a second position as we got a nice rejection of the previous resistance and as we all know resistance becomes support. I was drawn to place the second trade because of the large wick rejection that indicated sellers were stepping down and the buyers were coming back. I placed a small 1:2 not wanting to be too greedy