EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation below the level of 118.90

    Buy on a level breakthrough of 118.90 with 119.53 target. Stop loss = 118.40.

    Reason for the trading strategy

    Tomorrow, market participants will find out about the Bank of Japan's decision on the key interest rate, which is likely to be maintained in the range of 0-0.1%. However, they admit that the regulator will reduce the 2016 inflation forecast to less than 1%, which will put pressure on the Japanese government bonds yield and the yen.         

    USDJPY, H4


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