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EUR/JPY Put Signal 09 Nov 2015

Signal details
Entry Price: 
132.55
Close Price: 
132.46
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

The EUR/JPY pair has attempted a move above 133.00 in today's trading only to find itself lower in the aftermath. As New York trading started, the market was hit by rumors that the Europen Central Ban will likely form a consensus to cut deposit rates.

With the figures already in negative territory l, further moves by the ECB are likely to discourage further institutions from holding euro funds in deposits, piling up on pressure to sell the single European currency. We would be buying daily puts around 132.55 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.