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.
USDJPY has been moving in a horizontal trend for a long time. As a result of the rejection of the upper limit of this consolidation, the market has moved to the south almost from the beginning of November. These drops made the price fall below the local support at 111.70, which we are currently re-testing from below (as a resistance). Rejection of this zone could be a signal for declines. In the short term, therefore, it is worth considering the PUT option on this instrument.
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