Buy on a level breakthrough of 107.44 with 108.72 target. Stop loss = 106.90.
Reason for the trading strategy
At the end of this week, when April statistics on the US labor market is published, we can not exclude a sharp rise in the USDJPY pair. The US Federal Reserve is unlikely to raise its key interest rate in June, but it could happen in July or September. Meanwhile, yesterday Dennis Lockhart and John Williams still accepted a possibility of the federal funds rate increasing in June, which supported the dollar.
Reason for the trading strategy
At the end of this week, when April statistics on the US labor market is published, we can not exclude a sharp rise in the USDJPY pair. The US Federal Reserve is unlikely to raise its key interest rate in June, but it could happen in July or September. Meanwhile, yesterday Dennis Lockhart and John Williams still accepted a possibility of the federal funds rate increasing in June, which supported the dollar.
Exness - USDJPY: consolidation below the level of 107.44
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