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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.900 with take profit at 110.043.
Bearish Preference:
Sell position is envisaged if price trades below 109.668 with take profit at 109.539.
Fundamentals:
1:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment: Earlier hours of today, data from the US showed that the Initial Jobless Claims edged lower to 385,000 in the week ending July 31 from 399,000. Additionally, the US Census Bureau reported that the goods and services deficit widened to $75.7 billion in June from $71 billion in May. The Ongoing tournament happening in Tokyo has escalated the spike in Covid and Japan is poised to expand emergency restrictions.
Analysis: SCRUM Team
