Buy on a level breakthrough of 104.83 with 105.63 target. Stop loss = 104.33.
Reason for the trading strategy
In April, the All Industries Activity Index in Japan increased by 1.3% (m/m), after a growth of 0.2% (m/m) in March. Market participants are ignoring the positive macroeconomic statistics and are selling the yen amid the reducing fears about the future of the UK economy.