Daily Recommendations on Major -USD/JPY
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Update Time: 09 Dec 2021 09:30GMT.
USD/JPY - 113.45
The greenback's rise to 113.77 on Tuesday due to a rally in U.S. stocks and Treasury yields suggests the 1st leg of correction from November's fresh 3-year peak at 115.51 has ended at 112.54 last
Tuesday and intra-day weakness would yield consolidation before prospect of another rise towards 114.20, however, near term loss of momentum would keep price below 114.50/60 and yield retreat.
On the downside, only below 113.08/10 would indicate aforesaid recovery has ended instead and risk stronger weakness to 112.70/80.
On the eco. data front, US will release initial jobless claims, continued jobless claims, wholesale inventories and sales.
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