Wednesday, May 08, 2013

GBP / JPY: 08/05/13. 18:46HRS

GBP / JPY:

GJ is in an uptrend.

Chart below:

 
Price has pulled back to the 50% Fibonacci level, where is has found support.
 
Chart below:
 
 
Price has now moved back above the averages and pivot points and I am looking for a long position as detailed below
 
Levels and Chart below:
 
1st Entry: 153.60
2nd Entry: 153.40
 
Averaged Entry: 153.50
 
Stop Loss: 153.10
 
Target: 155.50 (5%)
 
 
I will update again should the trade be triggered.
 
 
 
 

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