Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 139.981 with take profit at 140.190.
Bearish Preference:
Sell position is envisaged if price trades below 139.228 with take profit at 139.009.
Fundamentals:
4:28 am
JPY BOJ Outlook Report
JPY Monetary Policy Statement
7:30 am
JPY BOJ Press Conference
1:30 pm
USD Core PCE Price Index m/m
USD Employment Cost Index q/q
3:00 pm
USD Revised UoM Consumer Sentiment
Comment:
The yen rallied hard in volatile trading on Friday after the Bank of Japan announced it will make its yield curve control policy more flexible, while the dollar held steady against most other rivals following better-than-expected U.S. economic data. Chopping and changing direction as traders digested the BOJ decision, the yen strengthened to as much as 138.05 per dollar before weakening to 141.20. The Japanese currency was last at 138.60, up 0.61% against the dollar.
Analysis: SCRUM Team