Daily recommendations on major – USD/JPY
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Update Time: 11 May 2021 09:30GMT
USD/JPY - 108.86
The greenback's selloff from 109.28 to as low as 108.35 at New York open on Friday on the release of poor U.S. jobs report suggests upmove from April's 6-week bottom at 107.49 has made a temporary top at 109.69 last Monday and consolidation with downside bias remains and weakness to 108.60/65 is likely, however, 108.47/50 should remain intact and yield rebound later this week.
On the upside, only above 109.15 would indicate aforesaid correction has ended instead and bring gain to 109.48, then 109.69 again.
On the data front, U.S. will release some second-tier eco. indicators, however, we have 5 Fed officials schedule to speak later today, please refer to our EI page for details.
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