Buy on rebound from 110.65 level with 111.91 target. Stop loss = 110.00.
Reason for the trading strategy
Last Friday, the Japanese currency weakened substantially against the background of rumors about the possible introduction of negative interest rates on loans in Japan. An adjusting growth of the yen can be observed today. Market participants are trying to assess the possible outcome of the regulator's meeting which will be held on April 28th.
Reason for the trading strategy
Last Friday, the Japanese currency weakened substantially against the background of rumors about the possible introduction of negative interest rates on loans in Japan. An adjusting growth of the yen can be observed today. Market participants are trying to assess the possible outcome of the regulator's meeting which will be held on April 28th.
USDJPY: consolidation in the range of 110.65-111.91
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