Daily recommendations on major – USD/JPY
|
Update Time: 26 Nov 2021 09:30GMT.
USD/JPY - 114.08
Despite the greenback's rise to a fresh 3-year peak at 115.51 on Wednesday, intra-day selloff on active safe-haven buying in JPY due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 113.40/50 would be seen after consolidation, however, oversold condition would keep price above 113.00.
On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.
Data to be released on Friday
Japan Tokyo CPI, Australia retail sales.
Swiss non-farm payrolls, GDP, France consumer confidence, Italy business confidence, consumer confidence.
Canada budget balance.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.