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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 108.919 with take profit at 109.014.
Bearish Preference:
Sell is envisaged if price trades below 108.660 with take profit at 108.500
Fundamentals:
USD 1:30PM Advance GDP q/q
Advance GDP Price Index q/q
Unemployment Claims
3:00PM Pending Home Sales m/m
Comment: The dollar was largely unchanged Thursday near multi-week lows after the U.S. Federal Reserve maintained its very dovish monetary policy, boosting confidence in the global economic recovery.
The Federal Reserve decided on Wednesday to leave the policy interest rate near zero and kept a $120 billion monthly pace of asset purchases, while acknowledging that there had been an improvement in the economic conditions.
Analysis: SCRUM Team
