Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 149.237 With take profit at 149.348
Bearish Preference:
Sell position is envisaged if price trades below 148.816 with Take profit at 148.695
Fundamentals:
No High Impact
Comment:
The Japanese Yen has been a surprise beneficiary of the tension in the middle east. The last 12 months has seen the US Dollar benefit more than the Yen from safe haven flows, something which seems to have reversed this week. USDJPY has fallen today as the DXY itself struggled to hold onto European and Asian session gains.
The U.S. dollar edged higher Tuesday, supported by its safe-haven status as violence in the Middle East continued, but gains were limited after dovish comments from a couple of Fed officials.
Analysis: SCRUM Team
