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USD/JPY Call Signal 26 Oct 2015

Signal details
Entry Price: 
120.90
Close Price: 
121.08
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The USD/JPY has fallen below 121.00 in today's trading after weaker than expected new home sales data has provided some impetus for talks of dovish Fed this week. The Federal Reserve will be holding a policy meeting on Wednesday, which is expected to yield no new results by the market.

Any comments on the weakness of the U.S. economy in recent months will be scrutinized by the market closely. That said, later during the week, we will also hear more from the Bank of Japan. Some analysts are expecting that Japanese monetary policy will be eased further, which should boost the USD/JPY.

Looking back at today's price action, we would be buying daily calls at 120.90, which is slightly below current market prices.

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.