EXNESS - Analytics

    EXNESS

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    USDJPY: Consolidation in the 122.80-123.72 range

    Sell on a level breakthrough of 122.80 with 122.09 target. Stop loss = 123.30.

    Reason for the trading strategy

    After closing the gap at around the 123.72 level, fixing of long positions in the USD/JPY pair took place. Its further dynamics will be determined by the yield spread between the 2-year US and Japan bonds to a significant extent, which yesterday narrowed from 0.685% to 0.618%.

     

    USDJPY, H4

    USDJPY


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