EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation in the range of 110.66-112.00

    Sell on a level breakthrough of 110.66 with 110.13 target. Stop loss = 111.16. 

    Reason for the trading strategy

    The expected slowdown in the growth rate of the US and China economies this year is transformed into the yen growth, as investors curtail the yen carry trade operations. The Bank of Japan will probably not intervene in the process of strengthening the national currency before the USDJPY pair reaches the level of 110.

    USDJPY, H1 


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