what does it mean: literary journal

The term "literary journal" can mean two things, I think.

1. A magazine or journal that is published and focuses only on literary works, current and past.
http://www.google.com/search?q=literary+journal&rls=com.microsoft:en-us:IE-SearchBox&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7SUNA

2. A journal that YOU keep as you read; in this journal you write your reactions to the works that you read, whether they are poetry or prose. If you are keeping a literary journal for a particular class, the teacher will probably have directions for you to follow, but mostly it's a place for you to record what you think about each work, not just to summarize the works.
http://www.google.com/search?q=reading+journal&rls=com.microsoft:en-us:IE-SearchBox&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7SUNA

=)

A literary journal is a magazine that appeals to, and its circulation is mostly in, literary circles: academics, writers, and poets