Instrument: USDJPY
Technical Analysis
Bullish Preference:
A buy is envisaged if price trades above 109.060 with take profit at 109.170.
Bearish Preference:
A sell is envisaged if price trades below 108.675 with take profit at 108.535.
Fundamentals:
None with high impact
Comment: The dollar was up on Friday morning in Asia but was set for a fourth consecutive week of losses, as the U.S. Federal Reserve sticks to its dovish monetary policy. Investors are still digesting the Fed’s latest policy decision, handed down on Wednesday. Although Fed Chairman Jerome Powell acknowledged the U.S. economy’s growth, he added that there was not yet enough evidence of “substantial further progress” toward recovery to justify a change in policy.
Analysis: SCRUM Team
