Daily Recommendations on Major - USD/JPY
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Update Time: 23 Jan 2020 09:30GMT
USD/JPY - 109.58
Despite dollar's resumption of medium term upmove from August's 33-month trough at 104.46 to a fresh 7-1/2 month peak at 110.28 last Friday, subsequent fall to 109.77 on Tuesday, then 109.51 in Asia today on active safe-haven yen buying suggests temporary top is in place and price would head to 109.44, then 109.00/10 after consolidation.
On the upside, only above 109.77 signals correction ended and risks gain to 110.09/11, then 110.28.
Data to be released later:
EU ECB interest rate decision, ECB deposit rate decision, consumer confidence.
U.S. initial jobless claims, leading index, KC Fed manufacturing index.
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