Daily recommendations on major – USD/JPY
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Update Time: 22 Feb 2021 09:30GMT
USD/JPY - 105.76
Although dollar's fall from last Wednesday's 5-month high at 106.22 to 105.25 Friday suggests upmove from January's 9-1/2 month trough of 102.60 has made a temporary top, subsequent rebound to 105.66, then intra-day break there on rise in U.S. yields signals pullback has possibly ended, above 105.92 would confirm and bring re-test of 106.22
On the downside, only below 105.25 risks weakness to 104.84/88, however, reckon 104.42 should remain intact.
Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index, leading index change, Dallas Fed manufacturing business index on Monday.
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