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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 109.532 with take profit at 109.634.
Bearish Preference:
Sell is envisaged if price trades below 109.245 with take profit at 109.128.
Fundamentals:
1:30 pm USD Core Retail Sales m/m
USD Retail Sales m/m
2:15 pm USD Industrial Production m/m
3:00 pm USD Prelim UoM Consumer Sentiment
Comment: The dollar was up on Friday morning in Asia, set to post a weekly gain. Investors are now beginning to assess the risk that U.S. inflation will rise faster and prompt central bank interest rate hikes sooner than expected. U.S. producer prices released on Wednesday were also higher than expected, with the Producer Price Index growing 0.6% month-on-month and 6.2% year-on-year in April. The data did, however, fail to budge the U.S. Federal Reserve from its current dovish monetary policy.
Analysis: SCRUM Team
