Daily recommendations on major – USD/JPY
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Update Time: 12 July 2021 09:30GMT.
USD/JPY - 110.12
Dollar's rally from last Thursday's 3-week trough at 109.54 to 110.27 in European morning today suggests first leg of correction from July's 15-month peak at 111.65 has ended and intra-day cross-inspired retreat in tandem with U.S. yields would bring consolidation before prospect of another rise, loss of upward momentum should cap price below res at 110.81.
Only a daily close below 109.86 signals recovery is over and extends said decline towards next daily chart objective at 109.20.
There is no eco. data due out in the U.S., however, we have NY Fed President Williams n Minneapolis Fed Present Kaskari speaking at 13:30GMT n 16:00GMT respectively.
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