Sell on a level breakthrough of 119.70 with 119.25 target. Stop loss = 120.15.
Reason for the trading strategy
In August, the balance of payments in Japan increased from 1.32 trillion to 1.65 trillion yen, while the trade deficit in goods and services decreased by 76% (y/y) to 268.3 billion yen. The news is positive for the yen. In the short term, the USD/JPY pair is likely to test the 119.25 level.