Yesterday's Report

yesterday i noticed 2 billion dollars offer on eurjpy right @ the resistance of 157.99. I immediately thought to myself that in order for those position to be liquidated they might have trouble getting filled. at if they become impatient they might lower the offer. Knowing that it is a resistance I waited until the price was 157.98 then i shorted. I came out positive 6 pips right there and later 34 pips on my MT4 account.

It is about supply and demand. That order wanted alot for his offer of euros but the supply was just not available. bids were below his price so they lower the offer to those bids. Hence, the price fell a small bit