Daily recommendations on major – USD/JPY
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Update Time: 17 Sept 2021 09:30GMT.
USD/JPY - 109.93
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.
On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.
Data to be released on Friday
New Zealand manufacturing PMI.
U.K. retail sales, EU current account, construction output, HICP.
U.S. University of Michigan sentiment.
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