OPTIONS EXPIRATION WEEK RESULTS IN 100-PIP MOVE FOR USDJPY

Last week was Options Expiration Week. And those who attend that FXOptions classes know that Options expiration is a time to look for opportunities to trade forex based on the market moves (Dow or its ETF DIA). Options Expiration typically results in strong move (either Up or Down), with about 70% to the Upside (although it has been Up-Down-Up-Down lately). This week, there were 3 clear "Hammers" on the DIA, which clearly showed (look below) that the path of least resistance was Up on Options Expiration day. And this is what happened with the USDJPY pair. (Note: We used to trade EURJPY instead of USDJPY, but with the Euro susceptible to downdrafts, it was not the preferred vehicle this time round).




















Chief Shook