Daily recommendations on major – USD/JPY
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Daily market outlook on major
Update Time: 08 Sept 2021 09:30GMT.
USD/JPY - 110.15
Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.
On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.
On the data front, U.S. will release second-tier data, please refer to our EI page for details. New York Fed President Williams (voter) will speak at 17:10GMT.
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