Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 106.252 with take profit at 106.361.
Bearish Preference:
Sell position is envisaged if price trades below 105.968 with take profit at 105.831.
Fundamentals:
USD: Core PCE Price Index m/m (2:30pm)
G20 Meeting (All Day)
Comment: The dollar was up on Friday morning in Asia, holding onto gains made during the previous session, where it climbed up from three-years low after a surge in U.S. bond yields.
The safe-haven yen’s decline came even as Asian stocks followed their U.S. counterparts down as the spike in yields fanned inflation worries. Emerging-market and commodity-linked currencies also retreated, with the Australian and Canadian dollars dropping from three-year highs.
Analysis: SCRUM Team