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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.146 with take profit at 110.267.
Bearish Preference:
Sell position is envisaged if price trades below 109.821 with take profit at 109.728.
Fundamentals:
1:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
3:00pm USD ISM Services PMI
Comment: The dollar was down on Friday morning in Asia, tumbling to its lowest level in almost a month as the week draws to a close. Investors now await the latest U.S. jobs report that could prod the Federal Reserve to begin asset tapering earlier than expected. Fed Chairman Jerome Powell indicated that asset tapering could still possibly begin within 2021 at the Jackson Hole symposium that took place during the previous week. He also said that there was no rush to subsequently hike interest rates, which sent the greenback down further.
Analysis: SCRUM Team
