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Instrument: USDJPY
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 109.992 with take profit at price 110.075.
Bearish Preference:
A sell position is envisaged if price trades below price 109.851 with take profit at price 109.712.
Fundamentals: No major Fundamentals
Comment: The dollar edged higher Tuesday, but remained near recent lows after last week’s frail jobs report, while attention turns to a number of central bank meetings during the week. USD/JPY rose 0.1% to 109.92, monday’s U.S. holiday limited activity in the foreign exchange markets, after the latest U.S. jobs report disappointed, suggesting the U.S. Federal Reserve is likely to delay any dialing down of monetary stimulus until November at least.
Analysis: SCRUM Team
