Buy on a level breakthrough of 109.39 with 110.00 target. Stop loss = 108.90.
Reason for the trading strategy
In March, the volume of industrial production in Japan was revised from 3.6% (m/m) to 3.8% (m/m). A 5.2% (m/m) decline in the index was observed in February. The statistics are negative for the yen. Meanwhile, the resumption of carry trade operations in Asia against the background of rising oil prices is putting pressure on the protective yen.
Reason for the trading strategy
In March, the volume of industrial production in Japan was revised from 3.6% (m/m) to 3.8% (m/m). A 5.2% (m/m) decline in the index was observed in February. The statistics are negative for the yen. Meanwhile, the resumption of carry trade operations in Asia against the background of rising oil prices is putting pressure on the protective yen.
Exness - USDJPY: consolidation below the level of 109.39
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