Buy on a level breakthrough of 122.93 with 123.75 target. Stop loss = 122.43.
Reason for the trading strategy
Today the Ministry of Finance of Japan published some good data on the financial status of national companies. In particular, investment in Japan grew by 11.2% (y/y) in Q3 2015, while companies' profit grew by 9% (y/y). The Japanese Ministry of Finance notes that the company survey results reflect a moderate recovery of the economy.
Reason for the trading strategy
Today the Ministry of Finance of Japan published some good data on the financial status of national companies. In particular, investment in Japan grew by 11.2% (y/y) in Q3 2015, while companies' profit grew by 9% (y/y). The Japanese Ministry of Finance notes that the company survey results reflect a moderate recovery of the economy.
USDJPY: consolidation in the range of 122.70-123.34
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