Daily Recommendations on Major - USD/JPY
|
Update Time: 12 Sept 2019 09:30GMT
USD/JPY - 107.87
Dollar's resumption of upmove from August's 33-month low at 104.46 to a fresh 5-week high at 108.16 in Asia today on easing U.S.-China trade tension suggests price would head to 108.42 after consolidation before prospect of correction due to loss of upward momentum.
On the downside, only below 107.19/20 signals temporary top made and yield weakness towards 106.93.
Pay attention to release of a slew of U.S. eco. data later today, market will pay attention to prelim. August CPI, core CPI, real weekly earnings, weekly jobless claims and later, Federal budget.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.