Instrument: USDJPY
Bullish Preference:
A buy position is envisaged if the price trades above 142.538 with take profit at 142.734.
Bearish Preference:
A sell position is envisaged if the price trades below 142.038 with take profit at 141.868.
Fundamentals:
No High Impact Data
Comment:
The U.S. dollar edged higher in early European trade Monday, but is on course for a monthly loss as traders weigh up the possibility of an end to the Federal Reserve’s tightening cycle, while the Japanese yen weakened in the wake of the Bank of Japan’s monetary policy shift.
Analysis: SCRUM Team