USD/JPY Pair Climbs Above the 105 Yen Level
The dollar is the weakest currency this morning, as there is a lot of bullishness in the forex market. This is following the weakness which we saw during yesterday’s trading session. Investors seem to be in the mood to take risks after the dollar made some very important gains recently. Therefore, look into selling the greenback as soon as possible.
When looking at in demand currencies this morning, the euro seems to come to mind. Traders are of the view that it now worth it for them to open Calls for the euro. It has made inroads into the British pound and the U.S. dollar. The EUR/USD forex binary option is trading higher this Friday morning by 0.54 percent at $1.3765. This is because traders are of the view that there will be more gains for the euro in the near future.
The USD/JPY pair recently climbed above the 105 yen level, showing just how much the Japanese currency has fallen lately. However, the pair is trading lower this morning by 0.07 percent at 104.73 yen. This comes as traders feel that the yen is slightly undervalued, and it is being supported by technical factors of now. The recent climb above the 105 yen market is the first time the pair has hit this high since October 2008. This has come on the forecast that the Bank of Japan will continue easing monetary policy.
U.S. Stocks ended up making some very important gains during yesterday’s trading session. Investors felt that it was worth it for them to take some very big risks. This was after jobless claims fell on the improving U.S. economy. The result was the S&P 500 rising to its highest level ever.
The Dow Jones Industrial Average climbed 0.75 percent to the 16,479.88 level. The S&P 500 made gains of 0.47 percent to 1,842.02.
Twitter advanced 4.79 percent to $73.31. Facebook dipped 0.4 percent to $57.73. Intel gained 1.06 percent to the $25.70 price level.
The crude oil binary option was able to make some very important gains yesterday, but it did not surpass the $100 mark. The good news is that the black gold is trading higher this morning by 0.07 percent at $99.62. Traders feel that they should go long on the crude oil binary option following the gains which we saw on Wall Street yesterday. Moreover, with the U.S. economy improving, this has led investors to the conclusion that crude demand will increase both in America and globally.
A few trading days ago, the gold binary option fell below the $1200 mark. Traders were of the view that they should go short on the yellow metal previously due to the forecast that the U.S. will cut stimulus. However, gold futures are undervalued, which has led to the commodity to make a mini comeback in recent trading days. Gold is higher this morning by several dollars, as traders feel that the metal will build on its gains as the trading day passes by. Therefore, begin opening daily Call options in the commodity.
It is great to see that traders decided to go long on U.S. stocks yesterday. They have been willing to take risks in the past several trading days. The reality is that the American economy is growing at a very fast pace. It is growing faster than many analysts had previously forecasted. As a result, you may want to go long on the S&P 500 Index as the trading day passes by.