Instrument: USDJPY
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 115.469 with take profit at 115.553.
Bearish Preference:
A Sell position is envisaged if price trades below 115.339 with take profit at 115.253.
Fundamentals:
No major Fundamental
Comment:
The Japanese Yen may get a boost if market-wide risk aversion grips investors amid turbulence in the US$3 trillion leveraged loan market. With the Fed intent on raising rates in 2022 and halting its bond-purchasing program, loans made under an easy-credit regime may be in trouble. As a result, the appeal of the anti-risk JPY and haven-linked US Dollar may rise.
Analysis: SCRUM Team