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By: Adam Stone
August 28th 2014 5:35am GMT, London UK

Today’s Binary Options Trading Strategy:

• Currency Pair: EURJPY
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 137.000
• Upside Potential: The upside potential for this binary call option is 100 pips to 138.000
• Downside Potential: The downside potential for this binary call option is 65 pips to 136.350

The EURJPY is caught in a cross-fire of uncertainty out of the Eurozone which negatively impacts the Euro as well as from Japan which negatively impacts the Japanese Yen. This currency pair has recently corrected from an intra-day high of 138.000 reached on August 22nd 2014 to an intra-day low of 136.746 reached yesterday on August 27th 2014. This intra-day low touched the horizontal support line of the EURJPY currency pair.


Price action is expected to find strong support around current levels from where a move higher is anticipated to take place. Binary options traders can take advantage from the expected move upward with a binary call option. Today’s binary options trading strategy suggests call options to be placed below 137.000 for a risk/reward ratio of 1.0/1.54.

An increase in volatility should be expected as sellers may attempt to extend the correction further which could result in a false breakdown of horizontal support. Binary option traders should take such a development as a good entry opportunity for binary call options. Volume is expected to be light on any further moves lower while an increase in volume on upward moves is expected.

The rally which is expected to develop out of recent price action formation at key support levels will face its first resistance at 137.419 which is an intra-day high reached on August 26th 2014. This level halted the previous attempt at a successful rally. A breakout above this level will take the EURJPY to the 137.620 level which is an intra-day high reached on August 15th 2014. Should this currency pair clear this level it is expected to rally back to its intra-day high of 138.000.

The following economic data out of the Eurozone is expected to impact the base currency, the Euro, of the EURJPY currency pair:

German Consumer Price Index for the month of August:

• Expectations: Monthly CPI reading of 0.0%, annualized CPI reading of 0.8%
• Previous Month’s Data: : CPI rose 0.3% in July, annualized increase of 0.8%
• Impact on Euro: The European Central Bank follows inflation reports closely and a better than expected reading out of Germany could translate into a rally for the Euro which favors binary call options for the EURJPY currency pair

In addition the following economic report out of Japan already impacted the quote currency, the Japanese Yen, of the EURJPY currency pair:

Foreign Transactions of Japanese Bonds and Equities for the week of August 22nd:

• Previous Week’s Data: Foreigners bought ¥659.8 billion of Japanese bonds and ¥257.7 billion of Japanese equities
• Released Data: Foreigners bought ¥609.0 billion of Japanese bonds and ¥223.4 billion of Japanese equities
• Impact on Japanese Yen: Today’s data is overshadowed by a potential increase in monetary stimulus which is negative for the Japanese Yen and favors binary call options in the EURJPY currency pair

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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