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.
NZDJPY since 20 September moves south. It is worth noting that during the downturn, the market re-tested all previous levels of support and tested the trend line several times. Last week we saw a calm upward correction and if this trend continues, in the near future we would expect a re-test of the recently defeated support at 77.35. Considering that this resistance coincides with the measurement of 38.2% of the Fibonacci correction, in its vicinity we would expect a supply response. Rejection of this zone could open the way to declines. It is therefore worth to watch closely the pair and, if it rejects the aforementioned level, consider the PUT option.
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