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%.