USD/JPY is a mixed picture
USD/JPY opened 30 pips higher in a gap to the upside and to the highest levels since July. Initially, the rally extended to 114.10 but it's since slipped back to 113.68.
That's still higher but only 20 pips on the day. That's still a bullish gap but the inability to extend the momentum to a real test of the May/July highs is disappointing.
Ultimately, I think it's a hiccup and higher levels are likely. On a risk/reward basis, buying here with a stop in the gap is a cheap trade that has room to run.
