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Instrument: USDJPY
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 109.995 with take profit at price 110.076.
Bearish Preference:
A sell position is envisaged if price trades below price 109.803 with take profit at price 109.728.
Fundamentals: No major Fundamentals
Comment: The dollar edged higher in early European trading Monday, but remained near a one-month low as Friday’s disappointing jobs report weakened expectations of an early tapering of the Federal Reserve monetary stimulus. A combination of supporting factors assisted the USD/JPY pair to attract some buying on the first day of a new week and recover a part of Friday’s post-NFP slide to the 109.60-55 support zone.
Analysis: SCRUM Team
