Daily Market Analysis 24/09/2021: USDJPYSeptember 24, 2021 2021-09-24 8:05
Daily Market Analysis 24/09/2021: USDJPY
Buy position is envisaged if price trades above 110.594 with take profit at 110.738.
Sell position is envisaged if price trades below 110.234 with take profit at 110.108.
Fundamentals: USD 3:00 pm Fed Chair Powell Speaks
Comment: USD/JPY took a breather on Friday after jumping more than 80-pips in the overnight session. The rise in the pair was contributed by the Fed’s cautious optimism on the timeline of tapering and subsequent rate hike. Additionally, a further move was corroborated by the ebbed contagion of China’s Everngrande default risk.
Analysis: SCRUM Team