Sell on a level breakthrough of 119.96 with 118.82 target. Stop loss = 120.50.
Reason for the trading strategy
The volume of industrial production in Japan fell by 0.8% (y/y) in July, with a forecast of -0.6% (y/y). The negative statistics provoked a curtailing of the yen carry trade operations. Currently, the yen is strengthening, the Nikkei225 index is decreasing by 1.63% and the Shanghai Composite is decreasing by 3.34% (after the publication of China's statistics for August).
Reason for the trading strategy
The volume of industrial production in Japan fell by 0.8% (y/y) in July, with a forecast of -0.6% (y/y). The negative statistics provoked a curtailing of the yen carry trade operations. Currently, the yen is strengthening, the Nikkei225 index is decreasing by 1.63% and the Shanghai Composite is decreasing by 3.34% (after the publication of China's statistics for August).
USDJPYunder pressure against the backdrop of curtailing of the carry trade operations
