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EUR/JPY Put Signal 12 Nov 2015

Signal details
Entry Price: 
132.40
Close Price: 
132.53
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
4/5 of 3 ratings

The EUR/JPY has been trading within ranges today just as the EUR/USD has. We are looking for a move lower after a brief test to the upside. The rate is likely to stabilize around 132.40, which is the level at which we are looking tonight to buy daily put binary options.

From a fundamental prospective there is not much new on this front - the EUR has been rallying throughout the day, but we find this move to be unsustainable and are betting on a decline towards the close of the U.S. trading session.

That said, Japanese authorities are struggling to meet inflation goals and the JPY could weaken in the coming days, stay tuned for more signals.

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.