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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 103.692 with a take profit 103.792.
Bearish Preference:
Enter a Sell position if price trades below 103.258 with take profit at 103.158.
Fundamentals:
No Major Fundamentals.
Comment: The pair edged up 0.18% to 103.29. The pair maintained its bid tone after the Bank of Japan announced its latest monetary policy decision and extended its special program aimed at easing corporate financing pressures by six months. The greenback looks poised for a bounce as market positioning appears wildly short, and technicals look a touch oversold. As such, USD/JPY may see further gains.
Analysis: SCRUM Team
