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EURJPY BINARY CALL OPTION – JULY 6TH 2015

BITCOIN 927.191 00:00 22.01
BITCOIN 925.542 23:00 21.01
BITCOIN 928.606 21:40 21.01
BITCOIN 927.834 21:20 21.01
BITCOIN 929.132 21:00 21.01
BITCOIN 926.861 20:40 21.01
BITCOIN 926.252 20:20 21.01
BITCOIN 925.464 20:00 21.01
BITCOIN 925.128 19:40 21.01
BITCOIN 925.724 19:20 21.01
BITCOIN 928.129 19:00 21.01
BITCOIN 927.638 18:40 21.01
BITCOIN 926.386 18:20 21.01
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By: Adam Stone
July 6th, 2015 9:47am 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 dipsbelow135.500
• Upside Potential: The upside potential for this binary call option is 550 pips to 141.000
• Downside Potential: The downside potential for this binary call option is 170 pips to 133.800

The EURJPY has corrected inside of its bearish price channel which took this currency pair from its intra-day high of 141.025 reached on June 9th 2015 to its most recent intra-day low of 133.760 which was recorded on June 29th 2015. This intra-day low marked a false breakdown below its horizontal support level which was quickly reversed. The Greek referendum played a key role in the breakdown and after a brief reversal a second breakdown occurred and a double bottom formation emerged. Popular websites which have revealed binary options trading secrets have shifted their focus to binary call options in the EURJPY currency pair.

EURJPY daily analysis chart for July 6th 2015

Price action is now trading inside of its horizontal support level and below its bearish price channel from where this currency pair is trying to stabilize.The EURJPY is expected to break-in into its bearish price channel from where more upside is favored.Binary options traders can profit from the anticipated move to the upside with binary call options. Today’s binary options trading strategy suggests call options to be placed on dips below 135.500 for a risk/reward ratio of 1.0/3.24.

Volatility contracted as the EURJPY retreated from its horizontal resistance level inside of its bearish price channel, but the two false breakdowns below its horizontal support level resulted in a sharp increase in volatility which is expected to increase further. Sellers are likely to attempt another push to the downside, but the double bottom chart pattern is expected to reverse any potential contraction. Buyers are anticipated to successfully force a breakout above its bearish price channel from where upside momentum can push the EURJPY to its horizontal resistance level.

The EURJPY will face its first resistance level at its intra-day high of 138.123 which was recorded on June 29th 2015. This level represents the high of the bounce after the gap to the downside resulted in a false breakdown. The next resistance level awaits this currency pair at the descending resistance level of its bearish price channel around the 138.900 mark. A breakout will clear the path to its intra-day high of 140.628 reached on June 22nd 2015. The final resistance level is located at its intra-day high of 141.025 which was recorded on June 9th 2015.

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

Eurozone Sentix Investor Confidence for the month of July:
• Expectations: A level of 15.0 is expected for the month of July
• Previous Report’s Data: A level of 17.1 was reported in the month of June
• Impact on the Euro: The expected level in Eurozone Sentix Investor Confidence may suffice to apply upward pressure on the Euro which favors binary call options in the EURJPY currency pair

In addition the following economic report out Japan is expected to impact the quote currency, the Japanese Yen, of the EURJPY currency pair:

Preliminary Leading Index & Coincident Index for the month of May:
• Expectations: A level of 106.2 is expected in the leading index for the month of May, a level of 109.1 in the coincident index
• Previous Report’s Data: A level of 106.4 was reported in the leading index for the month of April, a level of 111.0 in the coincident index
• Impact on the Japanese Yen: The anticipated contraction in the Coincident Index is likely to pressure the Japanese Yen to the downside; this 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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