Daily Recommendations on Major - USD/JPY
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Update Time: 10 Sept 2019 09:20GMT
USD/JPY - 107.28
Although dollar has retreated after intra-day break above last Thursday's 5-week peak at 107.22 to 107.49 in Asia on rising U.S. Treasury yields and minor consolidation would be seen, as said move signals upmove from August's 33-month trough at 104.46 has resumed, upside bias is retained for another rise to 107.82 before prospect of a correction due to loss of momentum.
On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 106.95/96 later.
Data to be released on Wednesday:
France non-farm payrolls, industrial output, Italy industrial output, UK claimant count, ILO unemployment rate, employment change, average weekly earnings.
Canada housing starts, building permits and U.S. redbook, JOLTS job opening.
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