Daily Recommendations on Major -USD/JPY
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Update Time: 12 Feb 2020 09:30GMT
USD/JPY - 109.88
Dollar's sideways swings following retreat from last Friday's 2-week high at 110.02 to 109.54 suggests temporary top is in place and consolidation with near term downside bias would be seen, however, reckon said support would remain intact and yield another rise, above 110.02 would bring re-test of Jan's 7-1/2 month peak at 110.28.
On the downside, only below 109.50/54 would risk stronger retracement to 109.26/31, then 108.98/00.
Data to be released later:
EU industrial production, and U.S. MBA mortgage applications, Federal budget.
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