Buy on a level breakthrough of 120.70 with 121.30 target. Stop loss = 120.20.
Reason for the trading strategy
Before the upcoming celebration of New Year 2016 this week, the sharp downturn in the financial markets is realized in the form of narrow laterals in the major currency pairs. In the short-term, opening positions in the USD/JPY pair may be considered on its exit of the range of 120.09-120.70.
Reason for the trading strategy
Before the upcoming celebration of New Year 2016 this week, the sharp downturn in the financial markets is realized in the form of narrow laterals in the major currency pairs. In the short-term, opening positions in the USD/JPY pair may be considered on its exit of the range of 120.09-120.70.
USDJPY: consolidation in the range of 120.09-120.70
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