Sell on a level breakthrough of 103.54 with 102.50 target. Stop loss = 104.04.
Reason for the trading strategy
We cannot see any significant reasons for the reversal of the downtrend in the USDJPY pair. Investors, fearing a second case of the Lehman Brothers (implementation of Brexit), naturally hedge their risks, curtailing the yen carry trade operations. Despite the Japanese authorities' concerns about the yen's "one-sided, sharp and speculative" growth, the Bank of Japan is not yet conducting currency interventions to weaken it.