EXNESS - Analytics

EXNESS

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USDJPY: under pressure against the background of a strengthening yen

Sell on a level breakthrough of 117.64 with 116.09 target. Stop loss = 118.14.

Reason for the trading strategy

Yesterday, the World Bank lowered the forecast for global growth in 2016 from 3.3% to 2.9% due to the deterioration of prospects for emerging markets. In particular, it predicts a slowdown in China's GDP form 6.9% to 6.7%. The news are deterring investors from buying the risky assets and contribute to the growth of the yen.

 

USDJPY, Daily



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