Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

USD/JPY call updates: bulls act as per FxWirePro’s whims and fancies

Trading call given on USDJPY: The underlying pair hits 108.280.

Trading tip advocated: “Contemplating above technical rationale, we advocate buying binary call options strategy with upper strikes at 108.025, this strategy is likely to add magnifying effects to the yields as long as the underlying spot FX keeps flying above strikes on expiration. Alternatively, maintain short hedges as it is with a view to arresting downside risks.”

Technical rationale: Stiff resistance (107.856) break-out with healthy bullish momentum.

Trade result: Call successful. It is exactly shown a drag of rally after breaching of previous resistance as stated in our previous write-up.

The USD staged a strong recovery in the second half of last week, which has taken prices back to important resistance levels within the medium-term range. This comes as US equities have slipped back to the midst of their current trading range (a plethora of key tech stock Q1 earnings reports are due this week) and US yields have extended recent gains, with 10-year yields now close to the psychological 3% level.

Can US yields and USD drag their gains further? If this’s puzzling, keeping upper bracket of 108.400 as targets, we would like to maintain the same binary call option strategy that is likely to fetch exponential yields spot FX. Spot reference: 108.237.

Currency Strength Index: FxWirePro's hourly USD spot index has shown 68 (which is bullish), while hourly JPY spot index was at 32 (mildly bullish) while articulating at 12:48 GMT. For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex.

FxWirePro launches Absolute Return Managed Program. For more details, visit: 

http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2018-08-21 16:54:03
0m

August 21 12:55 UTC Released

USRedbook YY

Actual

4.7 %

Forecast

Previous

4.5 %

August 21 12:55 UTC Released

USRedbook MM

Actual

0.2 %

Forecast

Previous

0.1 %

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 303788303788m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 303788303788m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 291968291968m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.