Daily recommendations on major – USD/JPY
|
Update Time: 16 Apr 2021 09:30GMT
USD/JPY - 108.88
Although the greenback's break below Wednesday's near the 3-week bottom at 108.76 to 108.62 yesterday signals decline from March's 1-year peak at 110.96 has once again resumed and consolidation with downside bias remains for marginal weakness, reckon near term loss of momentum would keep price above 108.41 today and yield a much-needed correction early next week.
On the upside, only above 109.25/30 would indicate a temporary low has been made and risk a stronger retracement of aforesaid downtrend to res 109.75/77.
T.G.I.F., U.S. will later release building permits, housing starts n University of Michigan consumer confidence. Dallas Fed President Kaplan will speak at 14:45GMT n then 16:30GMT.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.