Afternoon market update 16 09 2021:
There were several trades ideas discussed from today's currency call with the JPY pairs and Gold in focus. The USDJPY buy trade was announced already in the signals section entering at 109.56 with a 20 pip stop loss and 40 pip take profit this trade will need to be carefully monitored given the volatility with the USD. The GBPJPY if offering selling opportunities if price rejects off the 151.38 resistance level entering at 151.28 using a 40 pip stop loss and a 160 pip take profit. There is EUR weakness currently and this trade is already in play on the EURJPY short as it broke through the 129.13 support level earlier this afternoon. Entering here at 128.95 with a 30 pip stop loss and a 90 pip take profit. Gold has just tested the 1777 support level which is a possible buy trade if bullish price action is printed on the daily time frame. This is a longer term position with an investment focus on gold and not a shot term position.
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