Daily Recommendations on Major - USDJPY
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Update Time: 10 Sept 2018 10:00 GMT
USD/JPY - 111.03
Despite dollar's initial drop to 110.38 on Friday on increase in U.S.-China trade tensions, subsequent rally to 111.25 on robust U.S. jobs report suggests recent decline from 111.83 to retrace upmove from August's trough at 109.78 has made a temporary low there and choppy trading with upside bias would be seen for gain towards 111.43, however, near term loss of momentum would keep price below 111.83, yield retreat.
On the downside, only below 110.38 would revive bearishness for weakness towards 110.11 but August's low at 109.78 would hold on first testing.
Data out today:
New Zealand manufacturing sales, Japan current account, trade balance, GDP, eco watchers current, eco watchers outlook, China PPI, CPI, UK GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, and EU Sentix index.
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