Instrument: USDJPY
Bullish Preference:
Buy position is envisaged if price trades above 149.179 with take profit at 149.362
Bearish Preference:
Sell position is envisaged if price trades below 148.734 with take profit at 148.581
Fundamentals:
None with High Impact
Comment:
The dollar index moved little in Asian trade on Monday, as markets awaited key economic readings from the country this week.
PCE price data- the Fed’s preferred inflation gauge- is due on Thursday, as is a second reading on gross domestic product for the third quarter. Any signs of cooling inflation and economic growth are expected to further bets on a less hawkish Fed, denting the dollar and benefiting Asian markets.
Analysis: SCRUM Team