EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure against the background of rising GDP in Japan

    Sell on a level breakthrough of 106.86 with 106.36 target. Stop loss = 107.26.

    Reason for the trading strategy

     Japan's GDP in Q1 2016 increased by 0.5% (q/q). In Q4 2015 the growth rate was 0.4% (q/q). The positive economic statistics support the yen, but after J.Yellen's statement made earlier this week the increased appetite for risk prevents it form strengthening. Nevertheless, in the short term, the USDJPY pair will probably test the current year's low.

     

    USDJPY, H4


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