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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.216 with take profit at 109.320.
Bearish Preference:
Sell position is envisaged if price trades below 109.039 with take profit at 108.930.
Fundamentals:
No major fundamental
Comment: The Dollar/Yen closed higher on Friday as a spike in U.S. Treasury yields widened the spread against Japanese Government bond yields, making the U.S. Dollar a more attractive investment. Traders said the surge in yields was in response to President Joe Biden’s signing of the massive $1.9 trillion coronavirus-relief package and a generally optimistic outlook for the economy as the U.S. continues to administer large quantities of COVID-19 vaccines.
Analysis: SCRUM Team
