Sell on a level breakthrough of 103.54 with 102.50 target. Stop loss = 104.04.
Reason for the trading strategy
We cannot see any significant reasons for the reversal of the downtrend in the USDJPY pair. Investors, fearing a second case of the Lehman Brothers (implementation of Brexit), naturally hedge their risks, curtailing the yen carry trade operations. Despite the Japanese authorities' concerns about the yen's "one-sided, sharp and speculative" growth, the Bank of Japan is not yet conducting currency interventions to weaken it.
Reason for the trading strategy
We cannot see any significant reasons for the reversal of the downtrend in the USDJPY pair. Investors, fearing a second case of the Lehman Brothers (implementation of Brexit), naturally hedge their risks, curtailing the yen carry trade operations. Despite the Japanese authorities' concerns about the yen's "one-sided, sharp and speculative" growth, the Bank of Japan is not yet conducting currency interventions to weaken it.
Exness - USDJPY: consolidation above the level of 103.54
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