EXNESS - Analytics

    EXNESS

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    USDJPY: growth after the publication of Japan's balance of payments

    Buy on a level breakthrough of 118.23 with 119.23 target. Stop loss = 117.73.

    Reason for the trading strategy

    The current account surplus in Japan's balance of payments increased by 325.2% (y/y) and amounted to 960.7 billion yen in December, with a forecast of 1.00 billion yen. The statistics contribute to a resumption of yen carry trade operations. At the moment, the Nikkei225 is rising by 1.1%, and the yen is losing ground to the US dollar.

    USDJPY, H1


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