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Instrument: USDJPY
Bullish Preference:
A buy position is envisaged if the price trades above 138.929 With take profit at 139.259
Bearish Preference:
A Sell position is envisaged if the price trades below 137.915 with take profit at 137.489
Fundamentals:
USD: Prelim UoM Consumer Sentiment 3PM
Comment:
USD/JPY deepened losses on Thursday, dragged down by falling U.S. Treasury rates. Since Monday, the 10-year yield has fallen nearly 30 basis points to the edge of 3.8%, erasing all gains from the previous week, with the slump accelerating over the past couple of sessions following weaker-than-expected U.S. consumer costs and wholesale inflation. Most Asian currencies rose on Friday, while the dollar hit a 15-month low against a basket of currencies as weak U.S. inflation readings saw investors pricing in fewer interest rate hikes this year.
Analysis: SCRUM Team
