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Instrument: USDJPY
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 106.264 with take profit at key level 106.374
Alternative scenario:
Sell if price trades below 106.045 with take profit at 105.877
Fundamentals:
USD CB Consumer Confidence 3PM
Comment: Technically the buck has been weak, but we have seen this instrument break key resistance levels as seen on the chart. The dollar would see a huge boost due to the optimism in the US-China trade deal. The Chinese commerce ministry said there has been constructive dialogue with their US counter part and this optimism would reduce the pessimism in holding the dollar to other currencies.
Analysis: SCRUM Team
