Daily recommendations on major – USD/JPY
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Update Time: 16 Jun 2021 09:30GMT
USD/JPY - 109.96
Dollar's erratic rise from last Monday's 109.20 low to 110.16 in Europe yesterday suggests pullback from June's near 2-month 110.33 peak has ended and intra-day pullback will bring choppy sideways swings before prospect of another upmove, above 110.33 yields 110.70/75 but March's 1-year 110.96 peak should hold on first testing.
On the downside, only below 109.83 would bring stronger retracement to 109.60, break, 109.31/35.
US will release a slew of eco. data in New York morning (please refer to our EI page for details) which are likely to be ignored until FOMC announcement.
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