Signal for 11/06/2009 for: GBP/JPYOk the GBP/JPY behaved nicely yesterday hitting both profit target that were set if a buy was triggered. I took a buy position at the European open and banked a nice 100+ pips profit.
Those are the trades I took since the start of June and the last trade was GBP/JPY. I didn’t put a stop loss as I was in front of my computer watching a movie and monitoring the trade at the same time. (I don’t have much of a life ). If it went down by –70 pips I would have gotten out of the trade manually. I am not fond of posting my results… not because I don’t want to but because I realized that it’s very easy to post some false results. I just wanted to show you though that I do take the trades too, and that my analysis is not only for your use but for my personal use too. OK lets see what the GBP/JPY has in store for us today 11.06.09 R3-164.646 Well clearly this pair is in a strong up trend. It gained nearly 600 pips on the upside in the past 3 days and tried to retrace at the open of the US session. Price as I was typing, was trading in-between what seem to be two crucial levels, which are acting as resistance and support. These levels are 160.800 (resistance) and 160.350 (support). I won’t be prone to taking any sell signals on this pair too as I feel there is more room for price to move on the upside. Buy Scenario- At the open of the European session if price is above 160.35, this will give us enough insight that we should be a buyer for the rest of the London session (at least). To be on the safe side, wait for price to trade above 160.800 level. From there, price may head up to reach our first profit target which is around 161.30-40 and then eventually hit our second profit target which is at 161.90. Note: If price breaks 161.90 and starts trading above that level we may have a third target level at 162.80. As I said I won’t be looking for any sell today. Happy trading. Back to: Free Forex Signals Page Back to: Forex Trading Homepage
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