Daily Recommendations on Major - USD/JPY
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Update Time: 15 Aug 2019 09:30 GMT
USD/JPY - 106.20
Despite dollar's brief jump to 106.78 at European open, subsequent retreat suggests further choppy trading inside recent broad range 105.06-106.97 would continue with downside bias and below 105.66 would yield 105.30/40, where break would bring re-test of Monday's fresh 7-month bottom of 105.06.
On the upside, only above 106.78 would risk stronger retracement towards 106.97, then possibly 107.09.
Data to be released later:
Italy market holiday, UK retail sales, retail sales ex-fuel, retail sales import price.
US New York Fed manufacturing, initial jobless claims, labor costs prelim, productivity prelim, retail sales ex-autos, retail sales.industrial production, capacity utilization, manufacturing output, industrial production and Canada ADP employment change.
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