Buy on a level breakthrough of 120.34 with 121.23 target. Stop loss = 119.70.
Reason for the trading strategy
The Tankan business activity index of Japan's largest manufacturers in Q3 2015 decreased from 15 to 12 points, and in the services sector it increased from 23 to 25 points. The statistics is mixed. Meanwhile, in Q4 of 2015, market participants expect an expansion of the Bank of Japan's asset purchases program .
Reason for the trading strategy
The Tankan business activity index of Japan's largest manufacturers in Q3 2015 decreased from 15 to 12 points, and in the services sector it increased from 23 to 25 points. The statistics is mixed. Meanwhile, in Q4 of 2015, market participants expect an expansion of the Bank of Japan's asset purchases program .
USDJPY: consolidation below the 120.34 level
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