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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.944 with take profit at 110.044.
Bearish Preference:
Sell position is envisaged if price trades below 109.640 with take profit at 109.536.
Fundamentals:
USD 1:15PM ADP Non-Farm Employment Change
1:30PM Unemployment Claims
Comment: The market’s sentiment fluctuates accordingly to the chances of tapering in the US. Higher inflation has spurred speculation that the Federal Reserve will have to tighten its monetary policy ahead of planned. Policymakers have poured cold water on the matter, but some recently indicated that they are open to kick-start discussing trimming bond-buying. Treasury yield slipped below 1.60%.
Analysis: SCRUM Team
