Buy on rebound from 107.90 level with 109.35 target. Stop loss = 107.40.
Reason for the trading strategy
The drop in the probability of an increase in the base interest rate in the US in June (currently it is 4%), is putting pressure on the US currency. Market participants are paying attention to the low inflation expectations and the falling US bonds yields after the publication of the country's labor market statistics for April. Meanwhile, the threat of the Bank of Japan coming into the currency market will limit the current decline in the USDJPY pair.
Reason for the trading strategy
The drop in the probability of an increase in the base interest rate in the US in June (currently it is 4%), is putting pressure on the US currency. Market participants are paying attention to the low inflation expectations and the falling US bonds yields after the publication of the country's labor market statistics for April. Meanwhile, the threat of the Bank of Japan coming into the currency market will limit the current decline in the USDJPY pair.
Exness - USDJPY: consolidation in the range of 107.90-109.35
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