Sell on a level breakthrough of 119.50 with 118.69 target. Stop loss = 120.00.
Reason for the trading strategy
In December, the Japan producer price index fell from -3.6% (y/y) to -3.9% (y/y). On the one hand the statistics reflect low demand for the products in the country, and on the other hand they reflect the declining manufacturers' costs against the background of falling oil prices. The news put pressure on the Nikkei 225 index, which was down by 1.89%, and supported the protective yen.