EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure after the Bank of Japan meeting

    Sell on a level breakthrough of 123.08 with 122.22 target. Stop loss = 123.59.

    Reason for the trading strategy

    The yen is strengthening against the background of the Bank of Japan maintaining the volume of asset purchase program at 80 trillion yen per year. The news about the increase in Japan's trade balance from minus 115.8 billion to 111.5 billion yen in October provides additional support for the Japanese currency.

    USDJPY, H4

    USDJPY


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