Daily Recommendations on Major - USD/JPY
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Update Time: 09 Mar 2020 09:30GMT
USD/JPY - 102.45
Intra-day selloff below 2019 low at 104.46 (Aug) to a 3-1/2 year trough at 101.57 on plunge in U.S. Treasury yields suggests medium term decline has resumed, and as 103.06 has capped subsequent recovery, downside bias remains, below 101.57 needed to head to 101.15/20.
On the upside, only above 103.06 signals temporary bottom is made and risks stronger retracement to 103.50/55.
Data to be released later:
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, current account, EU Sentix index.
Canada leading index, housing starts, building permits on Monday.
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