Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 105.745 with take profit at 105.854.
Bearish Preference:
Sell position is envisaged if price trades below 105.408 with take profit at 105.322.
Fundamentals:
2:30pm USD Average Hourly Earnings
USD Non-Farm Employment Change
USD Unemployment Rate
Comment: The dollar was down on Friday morning in Asia but was still heading towards its best weekly gain in three months over growing confidence in the U.S. economic recovery from COVID-19, also Thursday’s data revealed that 779,000 initial jobless claims were filed over the past week, fewer than the 830,000 claims predicted in forecasts.
The dollar index touched a new two-month high in Asian trade amid signs of resilience in the labour market, with closely watched Non-Farm payroll figures due later in the global day.
Analysis: SCRUM Team