Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.642 with take profit at 109.742
Bearish Preference:
Sell position is envisaged if price trades below 109.136 with take profit at 109.006.
Fundamentals:
1:30 pm USD Core PPI m/m
USD PPI m/m
3:00 pm USD Final Wholesale Inventories m/m
Comment: The dollar was up on Friday morning in Asia, even as downbeat U.S. jobs figures and a stubbornly dovish U.S. Federal Reserve prompted investors to unwind some bets on the greenback and drove it towards its worst week of the year.
The Fed continued to maintain its dovish stance on monetary policy, with Chairman Jerome Powell telling an International Monetary Fund event on Thursday that the stance would only shift after a few consecutive months of positive data.
Analysis: SCRUM Team
