EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation below the 122.02 level

    Buy on a level breakthrough of 122.02 with 122.86 target. Stop loss = 121.50.

    Reason for the trading strategy

    The ban for Chinese shareholders who own more than 5% of companies' shares on selling them for 6 months, contributes to the growth of the world stock indices. Today, the Shanghai Composite Index gained more than 4.5%. Demand for the yen, which acts as protective asset, decreases.

     

    USDJPY, H4

    USDJPY


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