06/02/2009 GBPJPY Trade

Long 1 (100) GBPJPY @ 5710
Stop @ 5650 (-60)
Target @ 5790 (+80)

There were several converging levels that led me to look for a bounce:

• 38% Fibo retracement
• Central pivot @ 5714
• 5700 big figure
• Channel top support

I was just looking for a quick bounce up.

I don’t have a chart available for this one but price reacted as I expected and I was able to close the trade at 5748 for a +38 pip profit.

If you enjoyed this article, you might also like:

1. 05/29/2009 GBPJPY Trade
2. 1/7/09 GBPUSD Trade
3. 04/28/2009 GBPJPY Trade
4. 05/20/2009 GBPJPY Trade
5. 02/17/2009 EURCAD Trade