Sell on a level breakthrough of 103.55 with 102.00 target. Stop loss = 104.05.
Reason for the trading strategy
The technical picture in the USDJPY pair remains unchanged. It is still trading in a range of 103.55-105.05. The results of the UK referendum, that will impact on the yen, will be known tomorrow morning. If Brexit happens, it may fall below the level of 100. Today, the yen is supported by the news of an increase in the business activity index in Japan's manufacturing sector from 47.7 p. to 47.8 p. in June.