Instrument: USDJPY
Technical Analysis
Bearish Preference:
A sell position is envisaged if price trades below 105.379 with a take profit at 105.206
Bullish Preference: A buy position is envisaged if price trades above price 105.578 with take profit at 105.731
Fundamentals:
5:30am JPY Tertiary Industry Activity m/m
5:10pm USD FOMC Member Bowman Speaks
9:00pm USD FOMC Member Daly Speaks
Comment: The USD/JPY pair continued gaining positive traction for the fifth consecutive session on Tuesday and shot to over one-week tops during the Asian session. The JPY was further pressured by dovish comments from the BoJ Governor Haruhiko Kuroda, saying that there is still very high uncertainty over the economic outlook. Kuroda further added that it was premature to debate an exit from the massive stimulus programme, including BoJ’s ETF buying.
Analysis: SCRUM Team
