EXNESS - Analytics

    EXNESS

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    USDJPY: under pressure against the background of strengthening yen

    Sell on a level breakthrough of 102.35 with 101.40 target. Stop loss = 102.85.

    Reason for the trading strategy

    The publication of negative data on the business activity indexes in Japan and China, yesterday's decline of the EU rating by S&P (from AA to AA) are forcing investors to buy the defensive yen. Meanwhile, the May decline from -0.3% (y/y) to -0.4% (y/y) in the core consumer price index in Japan creates preconditions for a future expansion of the quantitative easing program in the country. 

     

    USDJPY, H1

     


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