FOREX Trade of the Day: Sell GBP/JPY

Today's FOREX Trade of the Day is a short GBP/JPY position.

Sell: 178.21
Buy: 176.83

Today's intraday High of 178.31 was just above the 23.6% retracement of the 19 September High through the 20 September Low, rendering the retracement level a profitable Entry Sell level.

Today's intraday Low of 176.72 was below the 50.0% retracement of the 16 September Low through the 19 September High, rendering the retracement level a profitable Exit Buy level.

Intraday Profit: +138 pips

Further downside targets include 175.92 and 174.79.

Our YouTube video illustrates today's FOREX Trade of the Day and identifies further downside targets.

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