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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 121.957 with a take profit at 122.181.
Bearish Preference:
Sell position is envisaged if price trades below 121.361 with take profit at 121.194.
Fundamentals:
No major Fundamental
Comment:
The dollar was down on Friday morning in Asia, and the Japanese yen was set for its worst week in two years. Rising import costs and low-interest rates contributed to the yen’s downward trend, but commodity currencies were set for a second consecutive weekly gain on the dollar as export prices continue to soar.
Analysis: SCRUM Team
