Analyst
Bearish Preference: Sell position is envisaged if price trades below 30147 with take profit at 30068
Bullish Preference: Buy position is envisaged if price trades above 30333 with take profit at 30480
German ifo Business Climate (EUR) 10 am
Comment: The growing confidence about the economic recovery boosted by another relief package for businesses and individuals incapacitated by the novel virus is dominating sentiment. The very accommodating stance of the Federal Reserve is another boost for the stock market.
Bullish Preference: Buy position is envisaged if price trades above 103.676 with take profit at 103.754.
Bearish Preference: Sell position is envisaged if price trades below 103.070 with take profit at 102.930
No major economic data with bearing on the pair
Comment: The pair edged up 0.18% to 103.29. The pair maintained its bid tone after the Bank of Japan announced its latest monetary policy decision and extended its special program aimed at easing corporate financing pressures by six months. The greenback looks poised for a bounce as market positioning appears wildly short, and as such, USD/JPY may see further gains.
Bullish Position: Buy position is envisaged if price trades above 1887.35 with take profit 1894.95
Bearish Position: Sell position is envisaged if price trades below 1877.76 with take profit at 1874.36
No major economic data with direct bearing on this pair
Comment: Gold was down on Friday morning in Asia but was headed towards a third consecutive week of gains. Expectations for additional stimulus measures in the U.S. also continue to grow which is expected to further weaken the Greenback and push the precious metal further upside.
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