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USD/JPY Call Signal 13 Apr 2016

Signal details
Entry Price: 
109.05
Close Price: 
109.26
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
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We are looking at the USD/JPY pair in order to identify opportunities to buy dips provided that the market conditions do not materially change. We have identified 109.00 as a key level for the pair for today's close and are looking towards the U.S. retail sales data in about an hour and a half to provide us with a dip towards the round figure.

While the USD/JPY stays above the figure we can still see some corrective action after weeks of declines for the U.S. dollar against its Japanese counterpart. Current prices are around 119.18, which is a touch too expensive for your longer perspective. More aggressive traders could also try buying hourly calls at 119.00.

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.