Monday, October 4, 2010

FOREX DOJO TRADE # 21

Tonight I wiil buy GBP/JPY @ 132.20 with TP 132.86 and SL 131.70. I don't have much time to explain my reasoning for the trade but I will say that the break above 132.25 about an hour ago is the reason for buying at 132.20. It should now serve as support with additional support lying around 131.80-131.90. Resistance around 133 looks strong so my target is just before that mark.

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