EXNESS - Analytics

    EXNESS

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    USDJPY: growth against the background of a resumption of carry trade operations

    Buy on a level breakthrough of 109.35 with 110.00 target. Stop loss = 108.85.

    Reason for the trading strategy

     In March Japan's current account surplus grew by 6.9% (y/y) to 2.980 trillion yen. The statistics are positive for the Japanese currency. Meanwhile, the growth of demand for risk against the background of the oil price increase up to the April highs has made the investors sell the protective yen, pushing the USDJPY pair to the level of 109.35.

     

    USDJPY, H4

     


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