Daily Recommendations on Major - USD/JPY
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Update Time: 29 Nov 2019 09:30GMT
USD/JPY - 109.50
Despite dollar's retreat from Wednesday's near 6-month high at 109.60 in New York, yesterday's rebound from 109.34 (AUS) to 109.59 in Asia today suggests correction has ended and upmove from Aug's 33-month trough at 104.46 would resume and head towards 109.93 after consolidation but 110.20/30 should hold due to loss of momentum.
On the downside, only below 109.07/11 would indicate temporary top made, risk weakness to 108.83/88.
Data out later :
UK GfK consumer confidence, Germany retail sales, unemployment change, unemployment rate, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicator, Italy unemployment rate, CPI, GDP, EU HICP, core HICP, unemployment rate, and Canada GDP, producer prices, budget balance.
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