Daily Recommendations on Major - USD/JPY
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Update Time: 22 Jul 2019 09:30 GMT
USD/JPY - 107.85
Despite dollar's resumption of decline from July's 108.99 high to a 3-week trough at 107.22 on Friday due to dovish comments from Fed Williams, subsequent rally to 108.06 in Asia today suggests temporary low is in place and consolidation upside bias remains for gain towards 108.32/37.
On the downside, only below 107.60 would risk weakness towards 107.35/40, then re-test of 107.22.
Data to be released later today:
U.S. Chicago national activity index, and Canada wholesale sales on Monday.
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