Instrument: USDJPY
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 137.282 with take profit at 137.398
Bearish Preference:
Sell position is envisaged if price trades below price 136.904 with take profit at 136.784
Fundamentals:
1:30pm USDCPI m/m
USDCore CPI m/m
Comment:
“The combination of slow growth, debt, and high inflation are likely to prove very tricky for the new Tory leadership,” Rabobank senior strategist Jane Foley told Reuters. “Sterling may suffer a lack of fresh direction until the new PM is in place.” Investors now await U.S. Consumer Price Index (CPI) for more clues on the U.S. Federal Reserve’s monetary policy path, which is due later in the day. Analysts predicted that the print would hit a 40-year high in June from a year earlier, the largest jump since 1981.
Analysis: SCRUM Team