Daily Recommendations on Major - USD/JPY
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Update Time: 22 Aug 2019 09:30 GMT
USD/JPY - 106.45
Although dollar's sideways swings following early rebound from last Monday's fresh 7-month trough at 105.06 to 106.97 last Tuesday are expected to continue, Monday's retreat from 106.69 to 106.17 on Tuesday would bring range trading before price head towards 105.66 before prospect of rebound.
On the upside, only above 106.97 would risk further gain to 107.09 but 107.57 should hold, yield correction.
Ahead of Friday's J. Powell's speech, pay attention to release of U.S. eco. data later in the day starting with initial weekly jobless claims, Markit mfg and services PMIs and Kansas City mfg index.
Also we have Minneapolis Fed President Kashkari (2019 non-voter and a dove) speaking at 18:30GMT.
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