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Daily Market Analysis 02|03|2021: USDJPY

Instrument: USDJPY

Technical Analysis

Bearish Preference: 
A Sell position is envisaged if price trades below 106.710 with a take profit before 106.538.
Bullish Preference: 
A Buy position  is envisaged if price trades above price 107.099  with take profit before price 107.287.
Fundamentals:
7:00pm    USD     FOMC Member Brainard Speaks
8:00pm    USD     FOMC Member Daly Speak 

Comment: Currency markets have recently been taking their cues from the global bond market, and while Treasury yields have stabilized the dollar has pushed higher on expectations that the Fed will show greater tolerance of higher bond yields than other central banks.

Analysis: SCRUM Team

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