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USD/JPY binary signal - U.S. ADP nonfarm employment - 04 Apr 2018

Signal details
Entry Price: 
106.60
Close Price: 
106.77
Direction: 
Low
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 4 ratings

The private payrolls data from ADP/Moody's analytics will be released today at 12:15 GMT and will cover the private labor market data for the month of March. According to the economists polled, private sector jobs are forecast to rise 205k during the month.

This marks a modest decline from 235k jobs that were added in the month of February. The U.S. labor market was seen continuing to improve. Although previously officials thought that the labor market was nearing its peak, recent data suggested that there was still a significant amount of slack left in the U.S. labor market.

This meant that more and more people were coming back into the labor market looking for work. The U.S. unemployment rate is expected to fall further below 4.0% as a result.

The services sector has been one of the main driving forces in the private sector hiring and this is expected to be reflected in today's report. However, based on the ISM's manufacturing data released earlier this week, we could expect to see some moderation in the amount of job creation for the month of March.

Furthermore, on a seasonal basis, there is also scope that the payrolls data for the month of March could potentially post a lower than expected number of jobs. This adds to the downside amid the global uncertainty surrounding the trade policies being pursued by the U.S. President trump.

Based on the above, today's binary options signal is USDJPY. The currency pair continues to remain weak and despite some modest intraday gains, the U.S. dollar is expected to remain weak in the near term.

Therefore, we would go for daily PUT options in USDJPY for a 21:00 GMT expiry time at 106.60 level. We expect USDJPY to retest the resistance level before closing lower on the day.

binary options signal usdjpy 04 apr 2018

Comments

kamal1956's picture

Unfortunately, we have suffered a loss of hope for compensation.

kamal1956
Toni H.'s picture

Last 35 binary signals win rate is 71%, and you keep complaining for free signals!??

Toni H.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.