EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure against the background of improved macroeconomic statistics in Japan

    Sell on a level breakthrough of 112.84 with 112.15 target. Stop loss = 113.34.

    Reason for the trading strategy

    Positive macroeconomic statistics in Japan has supported the yen. Today it became known that the volume of industrial production in the country grew by 3.7% (m/m) in January, with a forecast of 3.2% (m/m); the number of housing starts grew by 0.2% (y/y), with a forecast of -0.2% (y/y). The retail sales turned out to be worse than expected, but the pace of their slowdown decline from -1.1% (y/y) to -0.1% (y/y) in January.

    USDJPY, H1


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