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USD/JPY Signal - Japanese Tankan Survey - 03 Oct 2016

Signal details
Entry Price: 
101.35
Close Price: 
101.58
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
4/5 of 3 ratings

In the past couple of days the USD/JPY pair has been exploring the 100.10 to 101.79 range. this morning it failed to maintain the momentum which was gathered on the test of 101.67 and has subsequently declined to currently trade at 101.38. Additional increases in the pair’s price would be most probably limited but still possible.

Brexit fears are driving risky assets lower and the JPY higher, but the Japanese government has released a rather disappointing Tankan survey, which hasn't materially affected the USD/JPY pair. Looking at the price action we would be looking to buy daily calls at 101.35 today, heading into the 20:00 GMT expiration.

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.