USDJPY 24/5/2020 (MIDAZ TRADING STRATEGIES)

USDJPY

Overall we see the pair rangebound last week , both pairs has safe haven't status .
Japan is in recessionary phase .
Next week Japan overall economic data suggest negative.
Last week Japan's GDP yoy suggest contraction . On the trade side, recovery seem slow.
Negative rates are did not gave much boost to the economy, in long run we will see more problems like credit defaults risk arising.

technical view, Price seems to prefer to stay above 50EMA , Green line suggest a break in price will led the price to start a bullish momentum .
TP1 where resistance paired with BB range would be ideal to liquidate some position for bulls.