Sell on a level breakthrough of 104.50 with 104.00 target. Stop loss = 105.00.
Reason for the trading strategy
Yesterday, the Prime Minister of Japan Shinzo Abe announced a plan of economy stimulation amounting to more than 28 trillion yen. The plan includes "fiscal measures" amounting to 13 trillion yen and monetary measures amounting to 15 trillion yen. The adoption of monetary measures could take place tomorrow at the end of the 2-day meeting held by the Bank of Japan, that will put pressure on the yen. Today, against the background of the weak global reserve currency, the USDJPY pair may test the level of 104 and adjust upwards.
Reason for the trading strategy
Yesterday, the Prime Minister of Japan Shinzo Abe announced a plan of economy stimulation amounting to more than 28 trillion yen. The plan includes "fiscal measures" amounting to 13 trillion yen and monetary measures amounting to 15 trillion yen. The adoption of monetary measures could take place tomorrow at the end of the 2-day meeting held by the Bank of Japan, that will put pressure on the yen. Today, against the background of the weak global reserve currency, the USDJPY pair may test the level of 104 and adjust upwards.
Exness -The USDJPY pair may test the level of 104 today
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