Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.563 with take profit at 110.691.
Bearish Preference:
Sell position is envisaged if price trades below 110.230 with take profit at 110.118.
Fundamentals:
3:00pm USD Prelim UoM Consumer Sentiment
Comment: The dollar slightly retreated in early European trading Friday, but remained near its highest level in four months as elevated inflation levels and a recovering labour market point to the Federal Reserve reining in its hefty monetary stimulus in the near future. Additionally, data Thursday showed that 375,000 initial jobless claims were filed throughout the week, which was lower than the 387,000 claims filed during the previous week, and indicative of a gradually improving labour market.
Analysis: SCRUM Team
