EXNESS - Analytics

    EXNESS

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    USDJPY: consolidation in the range of 103.54-104.83

    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.

     

    USDJPY, H1

     


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