Sell on a level breakthrough of 119.20 with 118.50 target. Stop loss = 119.70.
Reason for the trading strategy
Today at 12.30 GMT, the number of initial jobless claims in the United States will be published. According to last week's results, it is expected to rise from 262 thousand to 277 thousand. The statistics may put pressure on the US dollar. The USD/JPY pair risks testing the April lows near the 118.50 level again.