USD/JPY is trading at 149.154, 0.02% up since previous day close. The YEN seems to be trading sideways amid mixed USD on an account of uncertain Fed monetary outlook in its next meeting. Earlier in this week, the Fed member Jefferson hinted a likelihood for a pause in rate hike in next Fed meeting on Monday 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 PPI rate grew by 2.0% lower than previous figure of 3.3%. As seen in the chart, the pair is trading near the short-term MA (10) & MA (20) which acts as a crucial level. Slight buying bias may be recommended for the day is YEN against the USD.

US100 is trading at 15424, 0.29% up since previous day close. The U.S markets gained as optimism looms over dovish rate hike stance in upcoming Fed’s meet as hinted by Fed member on Monday. The not-so-stringent FOMC Minutes retained an upside in US100. 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 CPI & Jobless Claims data which are to be issued today. As seen in the chart, the index is reversed upside after forming the doble bottom & also, crossed over the long-term MA (100) which acted as a crucial level. Buying on corrective dips can be recommended for the day.

WTI Oil is trading at $83.16, 0.24% down since previous day close. The Oil prices retreated on Thursday post release of U.S API report which showed a heavy build-up in Oil stocks level by 12.940 mbpd against the expected rise of 1.300 mbpd. This signals for higher supplies & hence, made the commodity less expensive. The traders will be looking forward to the result of U.S EIA report which will be issued today. Earlier in this week, the prices recovered as Hamas troop attacked the Israel over this weekend; disrupting Oil supplies from top Oil producing country. The supply concern as Russia & Saudi Arabia seems to be cutting down the Oil production level. Selling bias may be established for the day in WTI Oil.