Sell on a level breakthrough of 123.05 with 122.25 target. Stop loss = 123.55.
Reason for the trading strategy
The yen is strengthening after the publication of data on Japan's GDP for Q3 2015. In the reporting period, the growth of the index was 1% (y/y) with a forecast of -0.8% (y/y). Thus, Japan's economy avoided a recession, showing growth since the recession in Q2 2015.