Daily Recommendations on Major - USD/JPY
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Update Time: 15 Sept 2017 10:00 GMT
USD/JPY - 110.70
As dollar has risen strongly on broad-based yen selling after initial spike down to 109.55 (AUS) following another North Korea missile launch, suggesting pullback from yesterday's 1-month high at 110.04 has ended, above 111.04/05 would extend upmove from 107.32 to projected target at 111.40/45 later today.
On the downside, below 110.07 would 'prolong' volatile trading and risk another fall to 109.70/80 but reckon 109.55 would remain intact.
U.S. will release a slew of eco. data starting with retail sales, New York Fed mfg, mfg n industrial output, cap. utilization, bus. inventories and then University of Michigan consumer confidence.
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