FX:USDJPY   U.S. Dollar / Japanese Yen
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-Fundamental Analysis:
USDJPY             has a strong corelation with S&P500             , so I always analyse S&P500             prior to analyse USDJPY             .

I had my own analysis of S&P500             here:

I choose the trend of S&P500             is downtrend, so the trend of U/J next week would be downtrend.

No major US economic data is released next week, all eyes head to BoJ Meeting. This is the main event which affects on U/J next week.

However, I don't put much my faith in this event. Why do we over expect about this event ?. what do we expect form BoJ while everything is on the right road : Japan economy is recover very well, CPI             gradually reaches 2% target, Nikkei225 rally and export increases.

We think nothing new in this BoJ Meeting, they will keep monetary policy unchanged and keep going their stimulus.

This level of USDJPY             now is not too low : enough high to BoJ don't have more action.

Hence, we think U/J will correct a little bit : the problem is WHERE ?.

-Technical Analysis:
103.80 level now is not a strong support cause it was broken two times last week.

U/J has a level to test now:

-23.6% Fib retracement :103.36

I open a position:

- SELL USDJPY             at current price.

Take profit at 103.36. 87 pips.

Stop Loss at: 104. 77 pips.

To safe : stop loss at 104.10 : 87 pips.

Hit Take profit 87 pips gain
do you think i should open a put position in binary options with expiration date 24 jan (at the end of the day)? thank you
Sforex Nika Kerelashvili
Indeed, I don't trading binary Option, I just care Spot forex, so I don't understand much about binary option.

Which level you want to hit PUT position ?
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