Daily recommendations on major – USD/JPY
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Update Time: 07 May 2021 09:30GMT
USD/JPY - 109.14
The greenback's sideways move after Monday's break above last Friday's high at 109.27 to a 2-week peak at 109.69 suggests upmove from last April's 6-week bottom at 107.49 to retrace decline from March's 1-year peak at 110.96 remains in progress and further gain to 109.95/00 would be seen after consolidation, however, loss of momentum would keep price below 110.20/25 and yield correction early next week.
On the downside, only below 108.44 would indicate a temporary top has been made and risk stronger retracement to 108.08/10 before prospect of a rebound.
Data to be released on Friday
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, current account, France current account, industrial output, non-farm payrolls, trade balance, imports, exports, Italy retail sales, U.K. Markit construction PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventory, wholesale sales, Canada employment change, unemployment rate, Ivey PMI.
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