EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation in the range of 112.01-112.67

    Buy on a level breakthrough of 112.67 with 113.14 target. Stop loss = 112.20.

    Reason for the trading strategy

       The Tankan business sentiment index of Japan's large manufacturers amounted to 6 p. in Q1 2016, with a forecast of 8 p. By the end of Q2 2016 the index is expected to decline to 4 p. The unfavorable statistics could put pressure on the yen. Today, at the time of the publication of the March statistics on the labor market in the US, the USDJPY pair will probably test the upper limit of the range of 112.01-112.67.

     

    USDJPY, H1

     


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