Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.190 with take profit at 110.324.
Bearish Preference:
Sell position is envisaged if price trades below 109.994 with take profit at 109.872.
Fundamentals:
8:30am JPY BOJ Gov Kuroda Speaks
3:00pm USD CB Consumer Confidence
Comment: The dollar traded marginally higher Tuesday, stabilizing below recent highs ahead of the start of the latest U.S. Federal Reserve meeting which could provide clues of future policy action. Early hours of today Japan published the preliminary estimate of the July Jibun Bank Manufacturing PMI, which contracted by more than anticipated, falling to 52.2 from 52.4 in June. The country will publish the June Corporate Service Price Index, foreseen at 1.3% from 1.5% previously, while BOJ’s Governor Haruhiko Kuroda will participate in an online event.
Analysis: SCRUM Team