Buy on a level breakthrough of 119.65 with 120.35 target. Stop loss = 119.15.
Reason for the trading strategy
The Asian stock indexes had an ambiguous reaction to the publication of the morning economic statistics for China: the Nikkei 225 fell by 0.88%, the CSI300 did not change, while the USD/JPY pair continued to consolidate below the level of 119.65. This week, we expect its volatility to grow at the time of publication of data on Japan's foreign trade.
Reason for the trading strategy
The Asian stock indexes had an ambiguous reaction to the publication of the morning economic statistics for China: the Nikkei 225 fell by 0.88%, the CSI300 did not change, while the USD/JPY pair continued to consolidate below the level of 119.65. This week, we expect its volatility to grow at the time of publication of data on Japan's foreign trade.
USDJPY: consolidation below the level of 119.65
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