EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure after the publication of Japan's GDP

    Buy on a level breakthrough of 122.55 with 123.06 target. Stop loss = 122.05.

    Reason for the trading strategy

    Japan's GDP decreased by 0.2% (q/q) in Q3 2015, with a forecast of a 0.1% (q/q) decline. Meanwhile, the growth rate for Q2 2015 was revised upwards from -0.4% (q/q) to -0.3% (q/q). The Nikkei 225 responded with a decline of 1.04% to the statistics, while the yen strengthened against the US dollar. Perhaps in the future we will see the USD/JPY pair testing the resistance level of 123.06.

    USDJPY, H1

    USDJPY


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