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USD/JPY Signal - US Presidential Election - 08 Nov 2016

Signal details
Entry Price: 
104.00
Close Price: 
105.12
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 4 ratings

We are looking to establish long positions on the USDJPY pair as the U.S. Presidential election is looming. Our baseline scenario is that Hilary Clinton will be the new President of the United States. We see this development as a positive for the U.S. dollar and as such we expect that the global reserve currency will rally across the board.

In order to profit from this opportunity by using binary options we will be looking for a test of the lower band of recent ranges which we determine is close to the round figure at 104.00. The closest big support level in the USDJPY pair is at 104.15 and more aggressive players can try there, however we will be buying daily calls at 104.00 today, aiming for the expiration at 21:00 GMT

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.