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USD/JPY Signal - US GDP - 28 Oct 2016

Signal details
Entry Price: 
105.20
Close Price: 
104.71
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
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Yesterday after the release of some strong data from the US, the USD/JPY witnessed serious buying interest and it found itself in the 105.00 area which means that right now the pair is trading at prices which are multi-month highs. The release of the U.S. GDP today which has been strong should further support the USDJPY.

Currently the pair is trading at the price of 105.2. Having in mind the technical aspects since the pair re-visited the 105.05 area which was support this morning in Europe, we could assess the 105.20 level as an appropriate target price at which we will be buying daily calls heading into the 20:00GMT 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.