How to Trade JPY Weakness With Minimum Intervention RiskFundamentals & Sentiment
JPN225:
- Final data showed that business activity in Japan turned contractionary in June for the first time since November. Technology stocks led the advance, triggering the index to pop higher. The tech sector is the third by weight in Nikkei (~15%).
USD:
- The Fed is still in "wait and see" mode
- Recent US data has been weak (except JOLTS)
JPY
- Continuous JPY depreciation propels Japanese stocks
Technical & Other
Setup: S(B)
Setup timeframe: D
Trigger: 4h
Medium-term: Up
Long-term: Sideways
Min target: Mar high/ the end of the first breakout leg after Mar high
Risk: 1.19%