Buy on a level breakthrough of 132.50 with 133.09 target. Stop loss = 132.00.
Reason for the trading strategy
The exit of the Japanese economy into a recession (the country's GDP decreased by 0.3% (q/q) and 0.2% (q/q) in Q2 and Q3 2015 respectively) increases the likelihood of incentives expansion by the Bank of Japan. On the other hand, despite the twofold expansion of the Bank of Japan's balance over the past 2.5 years, a recession was recorded in Japan in the current year, as well as in the previous one. The regulator could theoretically reduce its key interest rate below zero (to -0.1%-0%) to support the economy.