Daily recommendations on major – USD/JPY
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Update Time: 18 Jun 2021 09:30GMT
USD/JPY - 110.15
Dollar's rally yesterday after Fed's hawkish hold and then break of previous June's 110.33 high to 110.71, then 110.82 in Asia today suggests early correction from March's 1-year 110.96 peak has ended at 107.49 in April, above extends uptrend from 2021 January's 102.60 trough to 111.60/70 b4 prospect of correction.
On the downside, only a daily close below 110.33 may risk stronger retracement to 109.81/85.
T.G.I.F. n no U.S. eco. data is due out, so market will take cue from movement in U.S. yields n intra-day price swings in U.S. stocks as 'volatility' is expected on today so-called 'quadruple witching' day due to expiries of stock index futures, stock index options, stock options n lastly, single stock futures.
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