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USD/JPY binary signal - FOMC Meeting minutes - 11 Apr 2018

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Signal details
Entry Price: 
107.05
Close Price: 
106.78
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
OTM
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The FOMC meeting minutes will be released today at 1800 GMT. A rather busy day will be marked by the release of other economic indicators. The U.S. consumer price index data is scheduled to be released at 12:30 GMT and the data covers the inflation change in the month of March.

Economists polled forecast that headline inflation was unchanged on the month following February's increase of 0.2%. Still on an annual basis, the annual inflation rate is expected to edge higher to 2.4%, up from 2.2% registered in the previous month.

The core CPI rate is expected to rise 0.2% on the month, rising at the same pace as the month before. This would bring the core CPI rate to rise to 2.1% on the year accelerating from 1.8% in the previous month.

It would be for the first time that core CPI rate would rise above the 2.0% threshold. Investors will be closely watching today's data ahead of the FOMC meeting minutes. The minutes cover the Fed's monetary policy meeting in March. The central bank hiked interest rates by 25 basis points at last month's meeting and did not make any major changes from its monetary policy.

Based on the above, today's binary signal is USDJPY. The currency pair has been consolidating around the 107.00 level with price action turning volatile on account of the global risk factors surrounding the trade wars between the U.S. and China.

Therefore, it is ideal for CALL options in USDJPY at 107.05 for a 21:00 GMT expiry time. The minor falling wedge on the intraday charts indicates a potential upside breakout in USDJPY as we expect to see the currency pair close higher on the day.

binary options signal 11 apr 2018

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.