Paper trade: Stopped out GBP/JPY @ 141.70 (-116.10 pips)

Just got back from a long weekend and found that my GBP/JPY long is stopped out for a loss of -$40.63. It looks like the resistance is holding up from the looks of Figure 1. This setup is toasted for now. GBP/JPY 140.00 – 143.00 is the range for the time being. However, I still think 141.70 is an important pivot. I’ll need to wait and see which way does it go though.

On the other hand, my EUR/JPY long is doing well and I’m still riding it. EUR/JPY broke through a previous resistance at 131.50 and shot through 132.00. I have moved my stop up to 131.50 to lock in some profit.

GBP/JPY, 3-hour

Related posts:

1. Paper trade: Stopped out AUD/JPY longs @ 81.3 (+7 pips) and 81.29 (-28 pips)
2. Paper trade: stopped out of AUD/JPY 83.59/84.90 (-130 pips) and EUR/JPY 136.73/137.50 (-77 pips)
3. Paper trade: USD/CAD long 1.07426, stopped out 1.06999 (-42.7 pips)
4. Paper trade: Closed GBPJPY @ 146.42 for +140 pips
5. Paper trade: Stopped out of USDCAD short @ 1.0640 for -67 pips, re-entering @ 1.0680