Sell on a level breakthrough of 111.31 with 110.66 target. Stop loss = 111.81.
Reason for the trading strategy
Last week, Janet Yellen said that it was necessary to exercise caution when raising interest rates. The sluggish wage growth in March and weak global demand may convince the Central bank not to force things. At the same time, the deterioration of macroeconomic data in Japan is now realized in the form of curtailing the yen carry trade operations.