The option for today is a series of articles about 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 the ongoing declines from September 21, AUDJPY in mid-November this year defeated the bullish trend line. The technical level of support in the area of 85.70 was also defeated. After several days of correction, the zone was tested from the bottom (as resistance) and in its vicinity the first supply reaction appeared on Monday. Yesterday’s candle also pointed to the potential rejection of this level.Today’s night data on Australian GDP in the third quarter of this year disappointed economists severely as a result of which we observed a strong depreciation of AUD. Permanent rejection of this zone may open the way for further declines, even in a slightly wider time horizon. Therefore, it is worth considering the PUT option on this instrument.

AUDJPY from TradingView

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