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.

[caption id="" align="aligncenter" width="580" caption="GBP/JPY, 3-hour"][GBP/JPY, 3-hour]GBP/JPY, 3-hour[/caption]