ATM binary USD/JPY puts likely to extract more profits

The data showed better than expected machinery orders and in the corporate goods price index boosting the yen.

In Japan core machinery orders for April jumped 3.8% well above the 2.0% MoM drop expected and the corporate goods price index (CPGI) for May rose 0.3% which is better than the 0.2% increase MoM basis.

The government sources clarified it has advanced its vision on machine order prospects after the latest data.

Currency Option Trade Tips:

As a result of above fundamental driver, USD/JPY has shown sharp slumps all the way from124.56 and made a bottom at 122.449.

We advocate add longs on binary ATM put options at current spot levels around 122.647 for more gains on further slumps.

Book profits as mid-day US trade sessions nears as it likely reverse the sentiments on verge of good set of retail activity numbers of US and crude inventory checks.