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USD/JPY Trading 02 - 06 Dec 2013 live with Matthew Taylor

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This week strategy is on the USD/JPY pair which is in a very strong uptrend. The first point where we would buy calls is the 102.50-60 area. Stay tuned with the latest updates here in the Forum.

Comments

Matt T.'s picture

The pair is approaching our first level to try and buy daily calls, the minor support line that we mentioned yesterday is today around 102.50. More aggressive binary options players can try to buy hourly calls too, however the risk is bigger. Stay tuned for an updated chart at the end of the day.

Matt T.
Goldwyn's picture

The USD/JPY found resistance at 103.37 zone and was nice moment to buy hourly puts, I made some good trades today :)

Goldwyn
Goldwyn's picture

Now the pair is at 102,58 do you expect to get back to the 103 area?

Goldwyn
fabrizzio's picture

there is a chance for a final upswing to 103.60-70 before reversal

fabrizzio
Goldwyn's picture

This would be great to finish it with buying some calls but it is still very risky in my opinion.

Goldwyn
Matt T.'s picture

We maintain our view that buying calls at current levels (102.46) on a daily basis should be fine.

Matt T.
Matt T.'s picture

USD/JPY Chart

the first test of our support line is holding up rather well. the price has dipped as low as 102.36 and is currently trading at 102.65 - a full 30 pips rebound back to in the money options for our play.

Matt T.
Matt T.'s picture

The pair has made good money yesterday for us and for those who followed our strategy. Aggressive players can try buying daily calls at 102.30 today, for those who lack conviction we can wait until the prospects become better and try buying if the pair reaches back to 101.90-102 area. If we see a break below 101.90 on a sustained hourly basis we would be reversing and starting to buy puts. Saty tuned and take a look at our updated chart.USD/JPY Chart

Matt T.
Matt T.'s picture

Another great day for our strategy yesterday. All who have followed our strategy to buy on a daily basis around 101.90-102 have made great profits on Wednesday. We post now our next chart and we would be still buying on a daily basis but we switch our level lower - 101.80. Should the pair breaks lower in a sustained way below 101.70 we could be in for a reverse in our strategy next.Image

Matt T.
Goldwyn's picture

Hey Matthew, I do made profits on your call, TY! Wait to see your forecasts for today.

Goldwyn