Technical glance:

We maintain long term bearish trend stance, while short term upswings could also to be utilized by below option strategy. Although some abrupt price recoveries that we've been seeing from every now and then, monthly chart still signals us the medium to long term bearish trend.

NZD/JPY held stronger at 74.478 levels which has acted as an important support in the recent past as well and has attempted to bounce back.

The pair is extending consolidation along trendline support, weakness can be seen only on breaks below 74.478, with leading oscillators to converge the ongoing price dips we see healthy selling momentum, thus, it also seems like moving on the verge of 73.400, if it fails to hold this level  this bearish event is quite certain.

Immediate resistance is seen at 75.33 (5-DMA), ahead of 75.59 (10-DMA), while support on the downside lies at 74.40 (trendline).

On an intraday perspective, even though prices have bounced a bit but remained well below moving averages curves, and no bullish substantiated signals from any other indicators, thus, we would deem these upswings as better shorting opportunity rather than fresh longs. However, some speculative trades are advised as below.

Trading tips:

We emphasize that the range trading (75.300 - 75.478) involves predicting whether the price of the trade's underlying asset will end up within this given range. we foresee very less probability of going beyond this range since there are no fundamental news nor a dramatic bullish technical signal.

As you can observe both the daily and intraday chart (4H), day trend being bearish even though it spikes we can see stiff resistance at 75.300 (by now shorter time MA is already curving out longer time MA along with RSI and Stochs have begun diverging), on the flip side we've seen 74.478 acting as strong demand zone.

Well, one surefire way to lose money when range trading (or tunnel betting) is to execute trades without doing any research or having any knowledge about the underlying asset's market. Unless you have at least a basic understanding of the factors that influence an asset's value, you'll find it difficult to execute profitable trades on a consistent basis. This is the case with all binary option types.

A trader should always pay close attention to the size of the spread before placing a trade. As we see in the picture above, the range is only 10 pips wide. Most Forex traders would agree that 10 pips is nothing for a major economic announcement. These spreads will change and a trader needs to double check the spread of the boundary option before placing a trade.

Also, do not confuse the "boundary option" with "high / low options". It is not the same! But the real money is in boundary options with fixing above stated range.