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Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 138.918 with Take Profit at 139.208
Bearish Preference:
Sell position is envisaged if price trades below 138.445 with Take Profit at 138.194
Fundamentals:
1:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment:
USD/JPY rose 0.3% to 138.59, consolidating below last week’s 24-year high of 139.38, after the Bank of Japan maintained its ultra-easy monetary policy despite raising its inflation forecast and warning of risks to the economic outlook. The Bank of Japan projected inflation would exceed its target this year in fresh forecasts issued on earlier today.
Analysis: SCRUM Team
