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BitCoin/CNY 6263.480 23:00 17.01
NZD/JPY 81.341 23:00 17.01
AUD/USD 0.75578 23:00 17.01
AUD/JPY 85.251 23:00 17.01
EUR/JPY 120.804 23:00 17.01
USD/JPY 112.794 23:00 17.01
EUR/USD 1.07108 23:00 17.01
AUD/NZD 1.04809 23:00 17.01
NZD/USD 0.72115 23:00 17.01
CAD/JPY 86.467 23:00 17.01
GBP/JPY 139.897 23:00 17.01
BitCoin/CNY 6264.060 22:30 17.01
NZD/JPY 81.294 22:30 17.01
AUD/USD 0.75594 22:30 17.01
AUD/JPY 85.194 22:30 17.01
EUR/JPY 120.721 22:30 17.01
EUR/USD 1.07112 22:30 17.01
USD/JPY 112.707 22:30 17.01
BitCoin/CNY 6191.350 22:00 17.01
AUD/NZD 1.04843 22:00 17.01
NZD/USD 0.72165 22:00 17.01
CAD/JPY 86.347 22:00 17.01
NZD/JPY 81.262 22:00 17.01
AUD/USD 0.75675 22:00 17.01
AUD/JPY 85.208 22:00 17.01
GBP/JPY 139.822 22:00 17.01
EUR/JPY 120.657 22:00 17.01
USD/JPY 112.621 22:00 17.01
EUR/USD 1.07137 22:00 17.01
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By: Adam Stone
May 7th, 2015 4:50am GMT, London UK
Today’s Binary Options Trading Strategy:
• Currency Pair: USDJPY
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary call options on dips below 119.700
• Upside Potential: The upside potential for this binary call option is 110 pips to 120.800
• Downside Potential: The downside potential for this binary call option is 50 pips to 119.200
 The USDJPY has reversed from its current intra-day high of 120.503 which was reached on May 5th 2015. This represented a lower high as compared to its previous intra-day high of 120.842 recorded on April 13th 2015 and is located just beneath its horizontal resistance level. The lower high has additionally allowed for the formation of a descending resistance level which is increasing downward pressure on this currency pair. The corrective phase was halted inside of its horizontal support level with an intra-day low of 119.203 reached yesterday on May 6th 2015.USDJPY

Price action is now trading inside of its horizontal support which is being enforced by its ascending support level. The USDJPY is expected to advance from its enforced support level until it can challenge its horizontal resistance level. Binary options traders can take advantage 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 119.700 for a risk/reward ratio of 1.0/2.20.

Volatility has decreased during its corrective phase, but an increase in volatility is anticipated as the USDJPY is trapped inside of a triangle formation. Sellers are likely to attempt a breakdown below its horizontal support level, which is being enforced by its ascending support level, in order to extend the move to the downside. Buyers are expected to take its enforced support level as a platform to push the USDJPY to the upside in order to challenge its intra-day high of 120.842. This favors binary call options in the USDJPY currency pair.

The USDJPY will face its first resistance level at its intra-day high of 120.044 which was recorded yesterday on May 6th 2015. This level marked the high of a minor drift to the upside before this currency pair resumed its corrective move. A breakout above this level will take the USDJPY to its descending resistance level around the 120.350 mark. The final resistance level awaits the USDJPY at its intra-day high of 120.842 which was reached on April 13th 2015 from where a double top formation may emerged and challenge an extension of the advance.

The following economic data out of the United States is expected to impact the base currency, the US Dollar, of the USDPY currency pair:
Consumer Credit for the month of March:
• Expectations: A level of $15.800 billion is expected for the month of March
• Previous Report’s Data: A level of $15.516 was reported in the month of February
• Impact on the US Dollar: The expected increase consumer credit is likely to pressure the US Dollar to the upside; this favors binary call options in the USDJPY currency pair

In addition the following economic report out Japan already impacted the quote currency, the Japanese Yen, of the USDJPY currency pair:
Markit/JMMA Composite PMI & Services PMI for the month of April:
• Expectations: A level of 50.8 was expected in the Composite PMI for the month of April, a level of 51.1 in the Services PMI
• Previous Report’s Data: A level of 49.4 was reported in the Composite PMI for the month of March, a level of 48.4 in the Services PMI
• Released Data: A level of 50.7 was reported in the Composite PMI for the month of April, a level of 51.3 in the Services PMI
• Impact on the Japanese Yen: The reported level in the Markit/JMMA Composite PMI and the Services PMI failed to lift the Japanese Yen which favors binary call options in the USDJPY 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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