1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDJPY: growth against the background of a resumption of carry trade operations

Discussion in 'Technical Analysis' started by Exness Analysis, May 12, 2016.

  1. Exness Analysis

    Exness Analysis New Member

    Joined:
    Mar 11, 2016
    Messages:
    233
    Likes Received:
    3
    Gender:
    Female
    Location:
    pakistan
    [​IMG]

    USDJPY: growth against the background of a resumption of carry trade operations

    USDJPY
    May 12, 2016, 09:21
    Buy on a level breakthrough of 109.35 with 110.00 target. Stop loss = 108.85.

    Reason for the trading strategy

    In March Japan's current account surplus grew by 6.9% (y/y) to 2.980 trillion yen. The statistics are positive for the Japanese currency. Meanwhile, the growth of demand for risk against the background of the oil price increase up to the April highs has made the investors sell the protective yen, pushing the USDJPY pair to the level of 109.35.



    USDJPY, H4
     
  2. farhan khan

    farhan khan New Member

    Joined:
    Apr 4, 2016
    Messages:
    50
    Likes Received:
    0
    Location:
    Indore
    The rupee opened lower at 67.07 against last Friday's closing level of Rs 66.76 per dollar at the Interbank Forex market and dropped further to 67.19. Extending losses against the US dollar for the third day, the rupee today plunged by 38 paise to hit one-week low of 67.14 on persistent demand for the American currency from bank and importers in view of sharp fall in domestic equities.
     
Loading...

Share This Page