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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.359 with take profit at 110.509.
Bearish Preference:
Sell position is envisaged if price trades below 110.120 with take profit at 109.980.
Fundamentals:
12:00pm USD Fed Chair Powell Speaks
1:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment: The dollar climbed in early European trade Friday, reaching multi-week highs after a spate of strong economic data ahead of the monthly payrolls release raised the possibility of early Federal Reserve tightening. The dollar has been under pressure for much of 2021 as traders have reacted to ultra-easy Fed policies, and the suggestions that these would stay in place for some time. However, this narrative is starting to change as the U.S. economic rebound gains in strength, throwing up the possibility of it driving policy tightening.
Analysis: SCRUM Team
