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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.426 with take profit at 109.592.
Bearish Preference:
Sell position is envisaged if price trades below 109.009 with take profit at 108.846.
Fundamentals:
1:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
2:15pm USD Industrial Production m/m
6:30pm USD Fed Chair Powell Speaks
Comment: The dollar was up on Tuesday morning in Asia. Disappointing economic data from China, the continuous spread of COVID-19’s Delta variant, and political tension in Afghanistan all served to curb the market’s risk appetite, giving the safe-haven U.S. currency a boost. Investors are still digesting Monday’s data from China that said industrial production and retail sales fell more than expected in July as the world’s second-largest economy continues to deal with its latest COVID-19 outbreak.
Analysis: SCRUM Team
