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USD/JPY binary signal - U.S. durable goods orders - 22 Nov 2017

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The monthly U.S. durable goods and core durable goods orders data will be released today at 13:30 GMT for the period of October. According to the economists polled, core durable goods orders are expected to rise at a slower pace of 0.4% during the month. This is slower than the 0.7% increase seen in September.

Headline durable goods orders are expected to rise 0.4%, slowing more than half from the previous month. In September, headline durable goods orders rose strongly by 2%.

September's gain in durable goods orders came on robust investment in the U.S. Orders for business equipment was seen rising more than forecast. On an annual basis, core durable goods orders were seen rising 11.6% during the three months of July through September.

It was the strongest pace of increase in durable goods led by higher investment and increased economic activity during the third quarter. Capital goods shipments that excluded aircraft and military equipment was seen rising 10.6% which also added to the higher GDP data during the period.

Today's durable goods orders cover the start of the fourth quarter period. Following the strong increase in September, durable goods orders are expected to moderate as a result. The data is unlikely to move the markets much but still the durable goods figures will shed some light into how the U.S. economy fared during the fourth quarter of the year.

Although the economists polled expect to see a decline in the monthly durable goods orders report, it is evident that the moderation is but expected. As a result, the market reaction could be muted at best.

Today's binary options trading is USDJPY, the currency pair has been trading somewhat weaker, but price action is showing signs of a bottom in the short term.

Therefore, we are looking to purchase daily CALL options at 112.02 where support is formed. A retest of support near 112.02 will see USDJPY potentially closing higher on the day.

binary options signal usdjpy 22 Nov 2017

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. 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. All risks and coasts associated with online trading are your responsibility.