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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.170 with take profit at 110.248.
Bearish Preference:
Sell position is envisaged if price trades below 109.982 with take profit at 109.884.
Fundamentals:
USD 3:00PM: FOMC Member Bostic Speaks
JOLTS Job Openings
FOMC Member Barkin Speaks
Comment: The USD/JPY pair edged lower through the early European session and dropped to fresh daily lows, around the 110.10 region in the last hour, albeit lacked follow-through. A combination of factors failed to assist the USD/JPY pair to capitalize on the post-NFP positive move to near two-week tops, instead prompted some selling on the first day of a new week. Investors remain worried that the fast-spreading Delta variant of the coronavirus could derail the global economic recovery.
Analysis: SCRUM Team
