USD/JPY is trading at 149.338, 0.02% up since previous day close. The tight range can be observed in USD/JPY against the steady USD amid uncertain chances over interest rate decision in upcoming Fed meeting. Last week, the FOMC member Jefferson hinted a likelihood for a pause in rate hike in next meeting which pushed up the USD/JPY. Ongoing geo-political conflict between Hamas & Israel over this weekend made the safe haven currencies like YEN & Swiss Franc stronger. The Japan’s Revised Industrial Production fell by 0.7% which slightly dragged down the pair USD/JPY. As seen in the chart, the pair seems to be sustaining the short-term MA (10) & MA (20) which acts as a crucial level. Wait & watch strategy may be recommended for the day in USD/JPY.

US30 is trading at             33849, 0.03% up since previous day close. The flat to higher side trading can be seen in U.S markets amid mixed sentiments over impending Fed monetary policy with uncertain interest rate decision. Last week, the U.S CPI rate grew by 0.4% higher than expectation which caused a panic amongst traders & investors & hence, dragged down the US30. Other than this, the rising conflicts between Israel & Hamas as the latter attacked on Israel over this weekend; followed by air-strike as a retaliatory move on Gaza made the indices volatile. The focus will remain on the result of U.S Empire State Manufacturing Index data which is to be issued today. As seen in the chart, the index retraced down till MA (100) & hence, the cautious trading can be recommended for the day.

WTI Oil is trading at $87.68, 0.14% up since previous day close. A strong upside can be seen in Oil prices amid rising tension between Hamas & Israel which may affect the Oil supplies. The U.S Baker Hughes report showed a rise in Oil rig counts by 4 leading to 501 from 497 in the previous week. which will show the changes in Oil rig counts as compared to last week. Apart from this, the concern looms over lower supplies from Russia & Saudi Arabia; for both the countries announced Oil production cut levels by 1.3 mbpd. The result of U.S API & EIA reports will remain in focus for the week. As seen in the chart, the Oil is trading near the Fibo level 23.6 which indicates a breakout if breached.