EXNESS - Analytics

EXNESS

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In the short term, the USDJPY could test the resistance level of 118.06

Sell on a level breakthrough of 119.23 with 118.06 target. Stop loss = 119.73.

Reason for the trading strategy

The aggravation of geopolitical tensions in the Middle East have led to a sharp decline in demand for risky assets and strengthened the protective yen. Today, the Japanese Nikkei 225 index lost around 3%, while the Chinese CSI300 lost almost 7%.

 

USDJPY, Daily

 



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