Buy on rebound from 120.84 level with 122.00 target. Stop loss = 120.34.
Reason for the trading strategy
Today at 12.30 GMT, the data on retail sales in the US will be published. If the volume of sales exceeds 0.5% (m/m) in January, the demand for the US dollar will resume. With the USD/JPY pair testing the 120.84 support level, opening long positions is worth considering.
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