Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 108.351 with take profit at 108.530.
Bearish Preference:
Sell position is envisaged if price trades below 107.938 with take profit at 107.722.
Fundamentals:
2.30PM – USD Non-Farm Employment Change
USD Average Hourly Earnings m/m
USD Unemployment Rate
Comment: The greenback soared the most in a month after Powell’s comments at the Wall Street Journal jobs summit on Thursday. He said the sell-off in Treasuries during the past week was “notable and caught my attention” but was not “disorderly” or likely to push long-term rates so high as to warrant a more forceful Fed intervention. Instead, Powell reiterated the central bank’s commitment to maintaining its ultra-easy monetary policy until the economy is “very far along the road to recovery.”
Analysis: SCRUM Team
