Forex Trading Library

Trade of the Day – USDJPY – Limited upside with the ‘gap’ open

By Ian Coleman Last updated Oct 30, 2021

USDJPY – Intraday – We look to Sell at 111.07 (stop at 111.43)

We have a Gap open at 111.07 from 03/05 to 06/05. We have a Gap open at 111.07 from 03/05 to 06/05. Bespoke resistance is located at 111.07. Preferred trade is to sell into rallies.
Our profit targets will be 109.75 and 109.50

Resistance: 111.07 / 111.23 / 111.50
Support: 110.28 / 109.75 / 109.50

261.8% extension Gap

Ian Coleman

PIA-First provide award winning trade ideas on financial markets. Ran by traders for traders, PIA-First offer professional technical analysis combined with market sentiment specifically designed for the professional trader and investor whether they are independent or working in a financial institution. Our research covers over 25 different financial instruments from major equity indices, commodities and spot foreign exchange (FX).

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