Draghi's speech is expected to send the Euro lower to sub 1.27 level and so far it has. However, that's just against the US dollar. This doesn't mean it doesn't hold true for other pairs. Performing this sell signal earlier, EURJPY is now in a confirmation and the entry is becoming more and more risky.
The original entry point was below the resistance zone. This offered greater reward to risk. The risk would just be your stop loss above the zone and the reward would be anywhere below the zone. As the price falls, the reward is drastically diminishing. It is still possible to enter a sell order on account of a correction. This would allow you to move your stop loss tighter and capture the rest of the reward to the supply zone. Otherwise, it would be in your best interest to place a put option at the 137.xx level. This pair is nearing my safer close target of 138.26. However, it can even go down to 136.80.
