Daily Market Analysis 28/10/2021: USDJPY

Instrument: USDJPY

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 113.670 with take profit at 113.799.
Bearish Preference: 
Sell position is envisaged if price trades below 113.474 with take profit at 113.357.
1:30PM US Advance GDP q/q1:30pm Unemployment Claims

Comment: The dollar edged higher in early European hours Thursday, with policy decisions by central bankers in Australia, Japan and Europe jolting trading. The Bank of Japan kept its interest rates and asset buying plans unchanged Thursday. The central bank also cut its projection for economic growth this fiscal year and also reduced its inflation forecast to zero for the year ending in March 2022 from 0.6%, suggesting it will lag other central banks in reining in its accommodative monetary policies.

Analysis: SCRUM Team

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