Daily recommendations on major – USD/JPY
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Update Time: 09 Apr 2021 09:30GMT
USD/JPY - 109.52
Despite the greenback's erratic decline from March's 1-year peak at 110.96 to a 2-week bottom at 109.01 yesterday in tandem with falling U.S. yields, subsequent rebound suggests a temporary low has possibly been made and consolidation with upside bias remains for stronger retracement to 109.94/97, however, 110.38 (previous support) should remain intact and yield retreat early next week.
On the downside, only below 109.01 would revive bearishness for one more fall to 108.67/70 before prospecting of correction due to loss of momentum.
Data to be released on Friday
Swiss unemployment, Germany industrial output, exports, imports, trade balance, current account, France industrial output, UK house prices, Italy retail sales.
Canada employment change, unemployment rate, U.S. PPI, wholesale inventory and wholesale sales.
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