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.