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USD/JPY Signal - 16 Feb 2016

Signal details
Entry Price: 
113.95
Close Price: 
No Trade
Direction: 
High
Expiry Time: 
21:00 GMT
How we trade
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The USD/JPY has been trending lower throughout the day as European stocks slumped in the run up to the New York trade. Oil was the major driver for volatility throughout the day as headlines from OPEC leaders dominated price actionin all risk assets, and since the USD/JPY is taking cue from the stock markets, the news affected traders of the Japanese yen too.

Looking at the charts a triple bottom formation is supporting prices at 113.60, this is why we are holding the view that binary options purchased at current levels around 113.95 will close in the money by the end of the New York trading session 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.