Daily Recommendations on Major - USD/JPY
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Update Time: 15 Aug 2018 09:30 GMT
USD/JPY - 111.26
Despite the greenback's fall to 110.11 Monday, subsequent rally to 111.43 today on easing of contagion fears from Turkish lira crisis suggests decline from July's 6-month peak at 113.17 has ended there and choppy trading with upside bias would be seen for gain towards 111.88/90.
However, loss of momentum would keep price below 112.10/15 and yield retreat later this week.
On the downside, only below 110.52 would indicate said recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.
Data to be released on Wednesday :
France market holiday, Italy market holiday, UK CPI, RPI, PPI input, PPI output, DCLG house price.
U.S. labor costs, productivity, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index.
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