Buy on rebound from 120.32 level with 121.68 target. Stop loss = 119.80.
Reason for the trading strategy
The January decline in China's PMI sparked a local increase in the demand for protective assets, as a result of which, the Japanese currency consolidated at 120.32 yen per dollar. Today, the CSI300 is gaining more than 2%, creating preconditions for a resumption of carry trade transactions in Asia.