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USDJPY BINARY PUT OPTION – FEBRUARY 18TH 2015

AUD/NZD 1.04022 22:00 08.12
NZD/USD 0.71742 22:00 08.12
EUR/AUD 1.42191 22:00 08.12
CAD/JPY 86.453 22:00 08.12
NZD/JPY 81.794 22:00 08.12
AUD/USD 0.74632 22:00 08.12
AUD/JPY 85.108 22:00 08.12
GBP/JPY 142.981 22:00 08.12
EUR/JPY 120.983 22:00 08.12
USD/JPY 114.031 22:00 08.12
EUR/USD 1.06086 22:00 08.12
NZD/JPY 81.771 21:30 08.12
AUD/USD 0.74627 21:30 08.12
AUD/JPY 85.084 21:30 08.12
EUR/JPY 121.015 21:30 08.12
EUR/USD 1.06141 21:30 08.12
USD/JPY 114.011 21:30 08.12
WELLS FARGO 57.285 21:00 08.12
USD/CHF 1.01627 21:00 08.12
TOYOTA (US) 122.740 21:00 08.12
SONY 29.155 21:00 08.12
SILVER 17.011 21:00 08.12
GOLD 1170.838 21:00 08.12
COLGATE-PALMOLIVE 65.695 21:00 08.12
FIAT CHRYSLER 8.46 21:00 08.12
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By: Adam Stone
February 16th, 2015 11:00am GMT, London UK
Today’s Binary Options Trading Strategy:• Currency Pair: USDJPY
• Timeframe: H4 (Hourly Chart)
• Binary Option Trading Recommendation: Seek binary put options on rallies above 119.000
• Downside Potential: The downside potential for this binary put option is 210 pips to 116.900
• Upside Potential: The upside potential for this binary put option is 100 pips to 120.000

The USDJPY is trading inside its horizontal resistance level after this currency pair pulled away from its most recent intra-day high of 120.479 which was reached on February 11th 2015. This marked a false breakout above its horizontal resistance level and this strong move emerged after the USDJPY reached an intra-day low of 116.872 on February 3rd 2015. After a false breakdown below its horizontal resistance level price action drifted to the upside; the USDJPY is now facing an enforced resistance level likely to apply downward pressure on this currency pair.

USDJPY

Price action has formed a head-and-shoulders pattern which is indicative of a potential trend reversal and extended corrective phase. The USDJPY is anticipated to breakdown below its enforced resistance level and correct back down to its horizontal support level. Binary options traders can profit from the expected move to the downside with binary put options. Today’s binary options trading strategy suggests put options to be placed on rallies above 119.000 for a risk/reward ratio of 1.0/2.10.

Volatility has decreased during the advance, but experienced a spike as the false breakout took place. After reaching its most recent intra-day high, and as the USDJPY drifted lower, volatility decreased until the false breakdown occurred. A further increase in volatility is expected as buyers and sellers are set to face off inside an enforced horizontal resistance level. Buyers may attempt a breakout which is unlikely to materialize above this enforced resistance level. Sellers are favored to use this level as a platform to successfully breakdown and challenge its horizontal support level.

The USDJPY will face its first support level, after a successful breakdown below its enforced horizontal resistance level, at its ascending support level around the 118.200 mark. This support level is the only one between its current price and its final support level which is located at its intra-day low of 116.872 recorded on February 3rd 2015. A double bottom formation is expected to form inside its horizontal support level which will make a further move to the downside very unlikely.

The following economic data out of the United States is expected to impact the base currency, the US Dollar, of the USDJPY currency pair:
Building Permits & Housing Starts for the month of January:
• Expectations: An increase of 1.0% is expected in building permits for the month of January, a contraction of 1.7% in housing starts
• Previous Report’s Data: An increase of 0.6% was reported in building permits for the month of December, an increase of 4.4% in housing starts
• Impact on the US Dollar: The expected contraction in housing starts is likely to apply downward pressure on the US Dollar; this favors binary put options in the USDJPY currency pair

In addition the following economic report out of Japan is expected to impact the quote currency, the Japanese Yen, of the USDJPY currency pair:
Annualized Machine Tool Orders for the month of January:
• Expectations: A final reading of 20.9% is expected for the month of January
• Previous Report’s Data: An initial reading of 20.4% was reported for the month of January
• Impact on the Japanese Yen: The expected increase in machine tool orders may suffice to pressure the Japanese Yen to the upside which favors binary put 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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