Instrument: USDJPY
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 133.588 with take profit at 133.824
Bearish Preference:
A sell position is envisaged if the price trades below 133.370 with take profit at 133.134
Fundamentals:
1:30pm
USD Advance GDP q/q
USD Unemployment Claims
Comment:
Fears that reduced lending will crimp further economic activity are adding to signs that U.S. economic growth is already slowing as a result of the Federal Reserve’s aggressive monetary tightening to combat soaring inflation. The first quarter U.S. gross domestic product figure is due for release later in the session, as is expected to show that growth retreated to 2.0% for the first three months of the year, from 2.6% the prior quarter.
Analysis: SCRUM Team