Sell on a level breakthrough of 117.64 with 116.91 target. Stop loss = 118.10.
Reason for the trading strategy
The Bank of Japan has upheld its policy of increasing its monetary base by 80 trillion yen per year. Market participants expected the regulator to increase control of the quantitative easing program. The Bank of Japan believes that the volume of industrial production, which has reached the bottom, will soon begin to recover. The data is positive for the yen.
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