Buy on a level breakthrough of 109.00 with 109.93 target. Stop loss = 108.50.
Reason for the trading strategy
The current growth of the USDJPY pair looks like an adjustment before the further reduction. The US dollar started to gain momentum after Taro Aso, the Minister of Finance, said that he could take action against the "unilateral" growth of the yen. Taro Aso said "We are closely watching the currency market and will take necessary measures if the need arises".
Reason for the trading strategy
The current growth of the USDJPY pair looks like an adjustment before the further reduction. The US dollar started to gain momentum after Taro Aso, the Minister of Finance, said that he could take action against the "unilateral" growth of the yen. Taro Aso said "We are closely watching the currency market and will take necessary measures if the need arises".
USDJPY: growth after the statement made by the Minister of Finance of Japan
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