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USD/JPY Call Signal 27 Oct 2015

Signal details
Entry Price: 
120.30
Close Price: 
120.45
Expiry Time: 
21:00 GMT
Result: 
ITM
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The USD/JPY has been threading some water in the latest couple of hours after hitting strong support levels around 120.20. With the price rebounding substantially from there, we are looking to buy a dip to 120.30 in the coming hours of the New York session.

From a fundamental perspective the risk for this pair is equally balanced for now, but tomorrow's Federal Reserve decision and statement may impact the market. If the Fed communicates that the economic conditions have deteriorated as most of the data releases in recent weeks are hinting, the U.S. dollar could suffer.

The main question will be how much negative news are already priced into the value of the USD/JPY. We think: a lot.

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.