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USD/JPY moves sideways to mildy bearish, buy boundary binaries

FX:USDJPY   U.S. Dollar/Japanese Yen
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Being right or wrong doesn't matter as long as your portfolio is able to generate positive cash flows as per George Soras.

How much more money you made when you are right and how much less you lost when you are wrong is all that matters.

There exists the role of shrewdness of our speculative strategies using high leverage derivatives instruments ( futures , options, forwards, swaps or what not).

Well, at present, the pair gives the candle resembling shooting star and spinning top patterns which are little bearish indications synthesizing with other technical indications.

On a broader perspectives, this pair looks quite weaker ever since it has broken strong supports at 115.918 levels.

Leading indicators moving in linear direction but shows little downward convergence to every dip in prices.

An attempt of %K crossover below oversold zone on weekly plotting have not been convincing at an early stage of reversal in last week as well as in this week because volumes began shrinking away and there is no substantiation from other indicators.

As you can make out from the intraday charts, the pries have been in the range (114.336 and 113.222) but every weakness in this pair would drag more below lower range.

Keeping this trend in mind we reckon, for intraday speculators, irrespective of the swings boundary binary options would fetch certain yields using the above boundaries in the binary strategy.

Nevertheless, short term bears can eye on shorts in near month futures for targets of 100-150 pips with stiff stop loss of 114.500 levels.
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