Thursday, October 2, 2014

FOREX Trade of the Day: Sell EUR/JPY

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

Today's FOREX Trade of the Day was a short EUR/JPY position.

Sell: 137.72
Buy: 137.08

Notional Intraday Profit: +64 pips

Today's intraday High of 137.72 was right around the 23.6% retracement level of yesterday's Daily range, rendering the retracement level a profitable Entry Sell level.

Today's intraday Low of 136.94 was below the 76.4% retracement level of the September Monthly range, rendering the retracement level a profitable Exit Buy level.

Further downside targets include 135.71, 133.50, and 132.03.


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