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Instrument: USDJPY+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 114.969 with take profit at 145.439
Bearish Preference:
Sell position is envisaged if price trades below 144.030 with take profit at 143.622
Fundamentals:
3:00pm USD Pending Home Sales m/m
3:10pm USD FOMC Member Bullard Speaks
3:15pm USD Fed Chair Powell Speaks
Comment:
The safe-haven U.S. dollar soared to a new 20-year high in early European trading Wednesday, as more hawkish Fed speak and rising Treasury yields spurred fresh recession fears. The Federal Reserve has made it clear that its fight against surging inflation is currently its most important mission, and it would be continuing with big interest rate increases even at the potential expense of sending the country’s economy into recession.
Analysis: SCRUM Team
