EXNESS - Analytics

    EXNESS

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    USDJPY: growth against the background of a weakening yen

    Buy on a level breakthrough of 107.90 with 108.50 target. Stop loss = 107.40. 

    Reason for the trading strategy

    Demand for risky assets is reduced in the light of J.Yellen's comments, as she is concerned by the latest US labor market report.  The oil prices are growing, and the Japanese currency is weakening. This week, it may be supported by the publication of Japan's GDP. In the short term, the USDJPY pair may test the level of 108.5, before it resumes its decline.

     

    USDJPY, H1

     


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