Sell on a level breakthrough of 123.50 with 122.50 target. Stop loss = 124.00.
Reason for the trading strategy
The decline of the euro and the growth of the yen against the US dollar put pressure on the EURJPY pair. During the day, you should pay attention to the publication of Germany's Ifo business climate index. Note that the final estimate of German GDP for Q4 2015 was in line with the expectations. In the reporting period, the index grew by 0.3% (q/q).