Daily recommendations on major – USD/JPY
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Update Time: 08 Oct 2021 09:30GMT.
USD/JPY - 111.95
Despite the greenback's fall from last Thursday's fresh 19-month peak at 112.07 to 110.83 in New York on Monday, subsequent strong rebound in tandem with U.S. yields and cross-selling in jpy to 111.99 today confirms the correction has ended and consolidation with upside bias is seen for a re-test of aforesaid resistance, break would extend Medium Term upmove towards 112.50/60 before prospect of retreat.
On the downside, only below 111.21 would revive bearishness for stronger retracement of Medium Term uptrend towards 110.79, then 110.54 before prospect of a rebound.
Data to be released on Friday
Japan all household spending, current account, trade balance, Eco watchers outlook, Eco watchers current, China caixin services PMI.
Germany exports, imports, trade balance, current account.
U.S. Non-Farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change, unemployment rate and housing starts.
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