Daily recommendations on major – USD/JPY
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Update Time: 16 Sept 2020 09:30GMT
USD/JPY - 105.25
Dollar's erratic fall from September's 106.55 high suggests re-test of August's low at 105.11 would be seen after consolidation, break would extend decline from August's peak at 107.04 to 104.73/78, however, reckon July's 4-1/2 month trough at 104.19 should hold on first testing.
On the upside, only above 105.81 would risk gain back to 106.00/04 before prospect of retreat.
Data to be released on Wednesday :
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, core PPI output prices, DCLG house price index, EU trade balance.
U.S. MBA mortgage applications, retail sales ex-autos, retail sales, business inventories, NAHB housing market index, Fed interest rate decision, and Canada CPI, BoC core CPI, core CPI.
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