Sell on a level breakthrough of 108.82 with 108.22 target. Stop loss = 109.32.
Reason for the trading strategy
The Japanese bank managers believe that inflation expectations in the country are likely to weaken. In particular, in Tokyo, a decline in core consumer price index from -0.3% to -0.5% per annum was recorded in May. However, as market participants see, the Bank of Japan has no intention to significantly expand the money supply in the country.