Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.388 with take profit at 110.511.
Bearish Preference:
Sell position is envisaged if price trades below 110.167 with take profit at 110.069.
Fundamentals:
USD1:30 PM Unemployment Claims
3:00PM CB Leading Index m/m
Comment: The dollar traded largely unchanged in early European trading Thursday, on the back foot as risk appetite returned to the market ahead of the latest European Central Bank policy-setting meeting. Risk appetite has returned to the foreign exchange markets, causing the safe-haven dollar to backtrack a little, after fears that the rise of Covid cases would hit world growth caused a sharp selloff in equities and more risky currencies earlier in the week.
Analysis: SCRUM Team