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EUR/JPY binary signal - Rising wedge pattern - 23 Apr 2018

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Signal details
Entry Price: 
132.30
Close Price: 
132.71
Direction: 
Low
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 5 ratings

We can see some signs of weakness in EURJPY. The currency pair was continuously falling in February and March and after failed to make an inverse head and shoulders, it is now moving in a rising wedge pattern, which is also a sign of exhaustion. Therefore, we would purchase daily Put options at 132.30 for 21:00 GMT expiry, as we expect EURJPY to close lower on the day.

binary options signal eurjpy 23 apr 2018

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.