Sell on a level breakthrough of 107.67 with 107.00 target. Stop loss = 108.17.
Reason for the trading strategy
Despite the apparent calm, market participants are preparing to see a series of energy companies going bankrupt in 2016, the UK exiting from the EU, and an aggravation of the situation with the Greek debt, etc. The protective yen discounts these risks and prepares for the next round of growth.
According to Eisuke Sakakibara, former Minister of Finance of Japan, nicknamed "Mr Yen", the USDJPY pair could end the year at around the 100 mark.
Reason for the trading strategy
Despite the apparent calm, market participants are preparing to see a series of energy companies going bankrupt in 2016, the UK exiting from the EU, and an aggravation of the situation with the Greek debt, etc. The protective yen discounts these risks and prepares for the next round of growth.
According to Eisuke Sakakibara, former Minister of Finance of Japan, nicknamed "Mr Yen", the USDJPY pair could end the year at around the 100 mark.
By the end of the year, the dollar may fall to 100 yen
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