Instrument: USDJPY
Bullish Preference:
A buy position is envisaged if the price trades above 140.181 with take profit at 140.534.
Bearish Preference:
A sell position is envisaged if the price trades below 139.018 with take profit at 138.605.
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
Markets are closely watching for any signals on future rate hikes, after softer-than-expected U.S. inflation readings ramped up hopes that the Fed will announce a pause in its current rate hike cycle.
Analysis: SCRUM Team