Sell on a level breakthrough of 120.80 with 120.30 target. Stop loss = 121.30.
Reason for the trading strategy
In April, the tertiary business activity index in Japan's services sector rose by 1.4% (m/m), with a forecast of 0.7% (m/m). The statistics signal the strengthening of the national economy health at the beginning of Q2 2016, supporting the yen.