As we expected, the pair USD/JPY came close to 109.00 but failed to overcome it yesterday.
The pair USD/JPY continues to attract our attention. And yesterday's downward movement on the back high confidence that the Fed will raise rates at the June meeting says only that traders believe in the strengthening of the yen.
Yesterday's conflicting data on the trade balance of Japan were to weaken the yen, but could not. The following important Japanese data, we will get only on Friday.
The United States will present data on new home sales. The forecast is 523K vs. 511K in March.
How to trade
Yesterday the pair USD/JPY came close to 109.00 but failed to drop below. Today, the short-term downward movement is possible in the range of 109.25 - 108.75. We would buy put binary options if the pair falls below 109.25.
Target price: 109.25
Expiry time: 20:00 GMT