Daily recommendations on major – USD/JPY
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Update Time: 14 Jan 2021 09:30GMT
USD/JPY - 104.01
Despite the greenback's selloff from Monday's 4-week peak at 104.39 to 103.53 yesterday, subsequent strong rebound to 104.19 today on news of a larger U.S. aid package suggests the pullback has ended and consolidation with upside bias remains for a re-test of said resistance, break would extend upmove from December's 9-1/2 month bottom at 102.60 to 104.57/60 later but 104.75/80 should remain intact.
On the downside, only below 103.53 would dampen bullishness and risk stronger retracement of aforesaid uptrend to 103.28, then 102.95/00.
Data to be released on Thursday
Japan corporate goods price index, machinery orders.
UK RICS housing price balance, China exports, imports, trade balance, Germany full year GDP.
U.S. import price index, export price index, initial jobless claims, continued jobless claims.
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