It's been a great start of the contest for me. As I said in my previous blog post, I expected the yen selling to continue so I positioned myself accordingly. Near the end of the day, I closed by GBP/JPY long with a profit of +120 pips and my USD/JPY long with a profit of +90 pips. Unfortunately for my third pair I picked the AUD/JPY, which didn't move much so I had to close it at a small 3 pips loss.

Had I chosen the EUR/JPY, I would be up another 60 pips and near number one instead of the current number four spot. But I'm some skittish betting on the Euro, even against the weak Yen. Overall, a gain of $74,600 and a jump to the forth position!

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