We suggested a potential trade set up on EURJPY from last friday dated 16-July-2010. Click Here to see the post.

we also explained the scenario later when trade was progressing on another post on 19-July-2010. Click Here to see that post.

Our scenario on EURJPY was to go short with sited targets 111.20, 110.50 & 110.00. Today it achieved all our targets, where prices dipped as low as 110.00, which was our last sited target on this pair on short entry suggestion. After that the prices bounced back up from 110.00 level.

If you have followed this analysis you would have made good pips on this trade. In trading we need patience and the ability to stick to our trading scenario, to accept the risk before entering any trade.

We hope this analysis helped you in making right decision in your trading and grabbed few pips into your account.

Click on the images and see how the trade developed from time to time before reaching our projected targets.

We wish you happy trading :)

Thanks,

TopPips Team.