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EUR/JPY Call Signal 03 Dec 2015

Signal details
Entry Price: 
133.40
Close Price: 
134.10
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The EUR/JPY has reacted to the ECB announcement with a spike lower, then a spike higher, then a massive rally that has erased all of the losses of the euro in the past couple of days. We are taking a brave stance and are choosing to buy calls on the pair despite its massive gains today.

The ECB announcement today did turn some heads, but it didn't surprise many. Probably the most notable event was an announcement by the Financial Times right before the decision that the central bank won't cut rates. In the end it doesn't matter because the technical damage has been done and we will be buying daily calls at 133.40 today.

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.