Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 148.507 with take profit at 148.763.
Bearish Preference:
Sell position is envisaged if price trades below 147.924 with take profit at 147.571.
Fundamentals:
None with Expected High Impact
Comment:
The dollar slid to a more than two-month low on Monday, extending a downtrend from last week as traders reaffirmed their belief that U.S. rates have peaked and turned their attention to when the Federal Reserve could begin to cut.
Minutes from the Fed’s latest meeting, released on Tuesday this week, could offer some colour on policymakers’ thinking as they held rates steady for a second time this month.
Analysis: SCRUM Team