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.
USDJPY has been moving for a week in a consolidation, its upper limit is very precisely matching 50% Fibonacci correction from the previous downward movement. As a result of yesterday’s upswing, the market reached resistance, where today in the morning a supply reaction occurred. Permanent rejection of this zone could open the way to declines. In short term, therefore, it is worth considering PUT option on this instrument.
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