Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 113.921 with take profit at 114.001.
Bearish Preference:
Sell position is envisaged if price trades below 113.729 with take profit at 113.627.
Fundamentals:
No Major Fundamental
Comment: The US Dollar was softer in Asia today as Treasury yields pulled back from last week’s peak. US 5-year Treasury yield went to 1.21% in Asia after trading at 1.27% near the end of last week. The US Dollar index (DXY) was down around 0.2% after last week’s run up due to the whopping US CPI overshoot lifting Treasury yields. USD was weakest against the AUD and CHF today. USD/JPY was steady due to weak Japanese data.
Analysis: SCRUM Team
