EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation below the 123.76 resistance level

    Buy on a level breakthrough of 123.76 with 124.60 target. Stop loss = 123.26.

    Reason for the trading strategy

    In April, the volume of industrial production in Japan increased by 1.2% (m/m), with a forecast of 1.0% (m/m). The data is positive for the yen. Meanwhile, demand for the world's reserve currency remains elevated after the publication of the US retail sales data for May.

    USDJPY, H4

    USDJPY


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