Sell on a level breakthrough of 102.35 with 101.40 target. Stop loss = 102.85.
Reason for the trading strategy
The publication of negative data on the business activity indexes in Japan and China, yesterday's decline of the EU rating by S&P (from AA+ to AA) are forcing investors to buy the defensive yen. Meanwhile, the May decline from -0.3% (y/y) to -0.4% (y/y) in the core consumer price index in Japan creates preconditions for a future expansion of the quantitative easing program in the country.
Reason for the trading strategy
The publication of negative data on the business activity indexes in Japan and China, yesterday's decline of the EU rating by S&P (from AA+ to AA) are forcing investors to buy the defensive yen. Meanwhile, the May decline from -0.3% (y/y) to -0.4% (y/y) in the core consumer price index in Japan creates preconditions for a future expansion of the quantitative easing program in the country.
Exness-USDJPY: under pressure against the background of strengthening yen
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