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Daily Forex Analysis | JPY & Gold (30 September 2021)

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Trade ideas from today's currency call:


USDJPY as price approaches the 112.00 resistance level wait to see if the DXY continues to move higher above 94.50 if a pullback does occur and price rejects the 112.00 level an entry short can be taken using a 20 pip stop loss and a 30 pip take profit. Alternatively if this DXY run higher continues then a breakout on the USDJPY through 112.00 is possible after a retest using a 30 pip stop loss and a 60 pip take profit entering at 112.20.


EURJPY is offering selling opportunities if price is rejected at the 130.00 resistance level entering at 129.80 using a 40 pip stop loss and a 120 pip take profit.


GBPJPY is currently trading towards the 151.00 resistance level if the GDP data comes out for the GBP at 14:00 GMT+8 misses the Q2 expectations of 4.8% selling opportunities are possible if price is held below this level entering at 149.80 using a 40 pip stop loss and a 80 pip take profit.


Gold is being held below the 1777 resistance level with buying opportunities conservatively back down at the 1672 support level and more aggressively back at the 1700 level if the DXY starts pulling back with the 10 year treasury bond yield easing off too on watch.



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