Daily recommendations on major – USD/JPY
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Update Time: 11 Jun 2021 09:30GMT
USD/JPY - 109.49
Yesterday's fall from 109.79 to 109.31 in NY due to selloff in U.S. yields suggests early correction from this week's low at 109.20 (Mon) has ended and expect consolidation before decline from Jun's near 2-month peak at 110.33 resumes, however, loss of momentum should keep price above 108.71/75.
Only above 109.79 dampens bearish outlook and may risk stronger retracement to 110.00/10.
Data to be released on Friday
New Zealand manufacturing PMI, retail sales.
Germany wholesale price index, UK GDP industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate.
Canada capacity utilization, and U.S. University of Michigan sentiment.
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