Instrument: USDJPY
Bullish Preference:
A buy position is envisaged if the price trades above 144.066 with take profit at 144.191.
Bearish Preference:
A sell position is envisaged if the price trades below 143.542 with take profit at 143.385.
Fundamentals:
1:15pm USD ADP Non-Farm Employment Chang
1:30pm USD Unemployment Claims
3:00pm USD ISM Services PMI USD JOLTS Job Openings
Comment:
Asia FX sinks after hawkish Fed minutes, dollar strong. Most Asian currencies fell on Thursday, while the dollar held recent gains as the minutes of the Federal Reserve’s June meeting showed that policymakers supported more rate hikes this year. The Fed minutes showed that almost all members of the central bank supported more rate hikes in the coming months, citing stubborn inflation and an overheated labor market. The minutes drummed up expectations for a hike in the Fed’s late-July meeting, while also pushing investors into the dollar and out of risk-heavy Asian markets.
Analysis: SCRUM Team