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.
The USDJPY pair has been moving in a horizontal trend for a long time. As a result of the rejection of the upper limit of this consolidation, we have seen declines for three weeks, as a result of which the market has already overcome local support at 111.75. After a slight correction, there was a re-test of this level and today there occurred a supply reaction. A permanent rejection of this zone could open the way to further declines. In the short term, therefore, it is worth considering the PUT option on this instrument.
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