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When US markets opened, USDJPY looked like it was bottoming out.

USDJPY in the past week created a three leg bottom at around 112.20, does it mean that we can potentially see a short term breakout upwards?

I decided to buy a short dated USDJPY call option expiring on Friday, February 17th with the following details: – Strike at Spot; 112.13, Premium 1.0, Breakeven; 113.13.

Now I have two Long call options on the USDJPY.

Let’s see.

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