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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 119.190 take profit at 119.376.
Bearish Preference:
Sell position is envisaged if price trades below 118.648 take profit at 118.487.
Fundamentals:
No Major Fundamental
Comment:
The U.S. dollar headed for its first down week in six versus major peers on Friday, languishing near a one-week low, as investors continued to assess the impact of the start of the Federal Reserve’s rate tightening cycle this week. The safe-haven greenback also lost traction – while the euro benefited – as traders stayed optimistic for an end to the war in Ukraine as talks continued between Moscow and Kyiv, although progress on Thursday was elusive.
Analysis: SCRUM Team
