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Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 145.535 with take profit at 145.716.
Bearish Preference:
Sell position is envisaged if price trades below 145.189 with take profit at 144.982.
Fundamentals:
USD
1:30 PM
Average Hourly Earnings m/m
Non-Farm Employment Change
Unemployment Rate
3:00 PM ISM Manufacturing PMI
Comment:
USD/JPY (U.S. dollar – Japanese yen) rallied strongly from mid-July through late August, but its bullish momentum has begun to fade over the past few sessions after prices failed to clear channel resistance at 147.35. Following this rejection, the pair has transitioned into what appears to be a consolidation phase, marked by reduced volatility and predominantly indecisive market movements. Japanese Finance Minister Shunichi Suzuki said on Friday that currencies should be set by markets although sudden moves are undesirable, while signaling no clear sign of intervening in the market to shore up the weak yen, which is driving up import bills.
Analysis: SCRUM Team
