Buy on a level breakthrough of 122.93 with 123.75 target. Stop loss = 122.43.
Reason for the trading strategy
Russia’s reaction to Su-24 shot down on November 24 on the border of Turkey and Syria was quite soft. On November 25, Russian Foreign Minister Sergei Lavrov said that Russia was not going to start a war with Turkey and “Russia’s attitude towards the Turkish people has not changed, there are questions to the actions of the current Turkish government”. Considering the fact that the incident with the downed Russian plane was not continued in the military sense, investors have again started to buy risky assets and sell the protective yen.
USDJPY, H1
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Reason for the trading strategy
Russia’s reaction to Su-24 shot down on November 24 on the border of Turkey and Syria was quite soft. On November 25, Russian Foreign Minister Sergei Lavrov said that Russia was not going to start a war with Turkey and “Russia’s attitude towards the Turkish people has not changed, there are questions to the actions of the current Turkish government”. Considering the fact that the incident with the downed Russian plane was not continued in the military sense, investors have again started to buy risky assets and sell the protective yen.
USDJPY, H1
Read more
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