Daily recommendations on major – USD/JPY
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Update Time: 30 Jun 2020 09:30GMT
USD/JPY - 107.73
Although dollar's weakness after resumption of upmove from last Tuesday's 6-week bottom at 106.08 to a near 3-week high at 107.88 in New York yesterday suggests minor top is made, intra-day rebound from 107.54 (Australia) has retained bullishness for gain to 108.54 before prospect of retreat due to loss of momentum.
On the downside, only below 107.37 would risk stronger retracement to 107.05/10 but 106.81 should hold.
Athough there is a slew of data to be released from U.S. today, market focus is on Federal Reserve Chair Jerome Powell and Treasury Secretary Mnuchin's testimony before the House Financial Services Committee at 16:30GMT.
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