Ok, putting aside my extreme hate for FF10 lets see

To start off with, as a general peice of artwork, good job, its come on really nicely especially as you seem not to be too experianced in water colours, and from the works I've seen done in them, that is a very good first try

Now onto specifics, the most striking thing about this artwork is the brilliant proportions, most people find that the hardest thing to get right in any peice of artwork. Also you have picked a pose that works well with the character you have chosen, bring out the best features.

Unluckly there are still problems with it, mistakes to learn from, the hair, I'm not entirly sure what is up with it but I think its the clips and the general roughness of it compared with the more smooth colouring of the rest of drawing, maybe smoothen it out a little and lighten the highlights. Along with this the eyes are another problem spot for me, they seem to bold and well defined compared to say the mouth or ears, reducing the thinkness of the black line around the edge of them would probably add to the effect, along with probably more graduations of the blackness of the pupils.

Overall though a nice piece, well done