Daily recommendations on major - USD/JPY
|
USD/JPY - 108.94
Despite dollar's selloff below yesterday's 109.22 low to a 1-week 108.25 bottom in Asia today, subsequent rebound suggests decline from Tuesday's 1-month 111.71 peak has made a temporary trough there and minor consolidation would be seen before prospect of another fall to 107.67/75 but 107.26 should remain intact.
On the upside, only above 109.22 would risk stronger retreacement to 109.71, then 110.16.
Data to be released later:
UK nationwide house price index, France consumer confidence, Italy manufacturing business confidence, consumer confidence.
U.S. personal income, personal spending, core PCE price index, PCE price index, University of Michigan sentiment, and Canada average weekly earnings, budget balance.
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.