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EUR/JPY Signal - Lack of Japanese Intervention - Aug 16 2016

Signal details
Entry Price: 
113.30
Close Price: 
113.08
Direction: 
Low
Expiry Time: 
20:00 GMT
Result: 
ITM
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The Japanese government could be on the brink of intervening into the forex market and traders know that, however as of the end of the London trading hours no such intervention has happened. We are looking to purchase some binary options in the EUR/JPY pair due to the uncertainty about the policy response from Japan this evening.

With the Japanese finance ministry carefully looking at exchange rates, we could see some intervention in the coming hours, but not before the start of the Japanese trading session on Wednesday. The EUR/JPY pair has been trading in a range, where the high point is situated around 113.30. This is the point where we will be buying daily puts if the price gets there.

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.