Daily recommendations on major – USD/JPY
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Update Time: 23 Apr 2021 09:30GMT
USD/JPY – 107.90
Despite the dollar's resumption of decline from March's 1-year peak at 110.96 to a fresh 6-week bottom of 107.82 in early European morning yesterday, subsequent bounce in tandem with recovery in US yields suggests temporary low is possibly made and above 108.54/62 would bring stronger retracement to 108.80/85 but 109.09 should hold today, yield retreat.
On the downside, below 107.82 would risk marginal weakness to 107.77 before the prospect of rebound due to loss of momentum.
Data to be released on Friday
U.K. Gfk consumer confidence, PSNB GBP, PSNCR GBP, retail sales, Markit manufacturing PMI, Markit services PMI, France Markit manufacturing PMI, Markit services PMI, consumer confidence, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI.
U.S. building permits, Markit manufacturing PMI, Markit services PMI, new homes sales.
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