The option for today is an analysis cycle for binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
As a result of Friday’s declines GBPJPY reached local support at 141.30, where today first weak demand response has already emerged. A permanent rejection of this level could open the way for further growth, and this in turn would translate into formation of the right arm of a potential inverted Head and Shoulders formation.
Breaking the neck line (Friday’s maximum) could make potential gains continue longer. It seems therefore that in both short and long term you should consider CALL option on this instrument.
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