Buy on a level breakthrough of 118.90 with 119.53 target. Stop loss = 118.40.
Reason for the trading strategy
In December, Japan's foreign trade surplus totaled 140.2 billion yen with a forecast of 110 billion yen. The statistics, which were better than expected, did not support the yen significantly. Investors assume that due to lower inflation expectations in the country, the Bank of Japan will expand the asset purchases program.