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Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 148.294 with take profit at148.383.
Bearish Preference:
Sell position is envisaged if price trades below 147.839 with take profit at 147.553.
Fundamentals:
2:45pm
USD
Flash Services PMI
Flash Manufacturing PMI
Comment:
The Yen fell sharply on Friday after the Bank of Japan (BOJ) kept interest rates in negative territory days after the Federal Reserve signaled U.S. borrowing costs would stay high, piling pressure on the Japanese currency.
Meanwhile, the U.S. dollar index was on track for its 10th consecutive weekly increase in the wake of the Fed decision and as the euro fell after weak economic data from France.
The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it is confident inflation will stay at the 2% target.
Analysis: SCRUM Team
