Instrument: USDJPY+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 131.862 with take profit at 132.168
Bearish Preference:
A sell position is envisaged if the price trades below price 131.252 with take profit at 130.888
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
3:00pm USD ISM Services PMI
Comment:
The U.S. dollar languished near two-month lows in early European trade Monday as weak economic data support the idea that the U.S. Federal Reserve may be near the end of its rate-hiking cycle. Asian currencies moved in a flat-to-low range on Wednesday, while the dollar stuck to two-month lows as weak economic data fueled increasing concerns over an economic slowdown this year.
Analysis: SCRUM Team