EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure against the background of a declining US dollar

    Sell on a level breakthrough of 123.56 with 122.93 target. Stop loss = 124.06.

    Reason for the trading strategy

    The weakening US dollar paired with the euro puts pressure on the USD/JPY pair. In addition, the May decline of 0.5% (m/m) in the business activity index in Japan's industrial sector contributes to curtailing of the carry trade operations.

     

    USDJPY, H1

    USDJPY


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