EXNESS - Analytics

    EXNESS

    628.50 4.00/10
    69% of positive reviews
    Real

    Fears for Italy's banking sector have provoked the rise of the yen

    Sell on a level breakthrough of 101.40 with 99.92 target. Stop loss = 101.90.

    Reason for the trading strategy

    On July 4, the ECB asked Italy's third-largest lender, Monte dei Paschi di Siena, to reduce the level of bad loans. Markets fear that such demands would be soon presented to the other banks in Italy, which against the background of Brexit will lead to a drop in the sector that is considered problematic in the country due to the extremely high number of bad loans. The news are putting pressure on the risky assets and support the protective yen.

     

    USDJPY, H4

     



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