Daily Forex Analysis - JPY & Gold Currency Analysis (22 July 2021)
Currency call summary 22 07 2021: USDJPY buy trade idea if price can return back to 110.00 with an entry here with a 30 pip stop loss and 60 pip take profit. GBPJPY is a possible sell trade if price can get through 150.60 this would be a trade with a 60 pip stop loss and a 120 pip take profit. EURJPY is a wait for the ECB meeting tonight 19:45 GMT+8 129.51 is the next level of support, if price breaks below look for selling this pair but after the news is released tonight given the potential positive surprise in tonight's meeting for the ECB. Gold is retracing with the DXY strength with a focus on the 1773 level for buying opportunities after a bounce is confirmed on a daily candle closing above 1773. The DXY is sustaining a slight up trend and with news out tonight a stronger dollar is likely for the remaining of the week with the FOMC meeting next Thursday morning at 02:30 as the main news event to watch out for to see if there is anything mentioned regarding tapering quantitative easing.
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