Daily recommendations on major – USD/JPY
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Update Time: 16 Oct 2020 09:30GMT
USD/JPY - 105.23
Despite dollar's rebound from Wednesday's 105.04 low to 105.49 in New York yesterday, subsequent retreat and intra-day weakness to 105.20 in Asia suggests recovery has possibly ended and below 105.04 would extend decline from October's 106.10 high to 104.50/55 before prospect of another bounce.
On the upside, only above 105.62 would risk stronger gain to 105.82.
Data to be released later
Italy CPI, CPI (EU norm), trade balance, EU trade balance, HICP, core HICP.
U.S. retail sales ex-autos, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment index, and Canada manufacturing sales
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