USDJPY: consolidation in the 118.25-119.32 range

February 20, 2015

Buy on a level breakthrough of 119.32 with 120.35 target. Stop loss = 118.80.
Reason for the trading strategy
The number of initial unemployment benefits claims in the US fell from 304 thousand to 283 thousand last week. In February, the business activity index in Japan's manufacturing sector fell from 52.2 to 51.5 n. The statistics published plays into the hands of the USD/JPY pair, but it remains in the range of 118,25-119,32.


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