EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation higher than the level of 122.62

    Sell on a level breakthrough of 122.62 with 122.22 target. Stop loss = 123.02.

    Reason for the trading strategy

    After the Bank of Japan kept the annual the monetary base increase unchanged, the yen continued to strengthen in the international currency market. During the last day, the yield spread between the 10-year US and Japanese bonds got reduced (although slightly) by 1 bps.

    USDJPY, H1

    USDJPY


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