Daily recommendations on major – USD/JPY
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Update Time: 14 Jan 2022 09:30GMT.
USD/JPY - 113.81
Dollar's selloff below Mon's 115.05 bottom to a 3-week bottom at 114.01 in New York Thursday on continued usd's weakness due to fall in U.S. yields, then intra-day break there to 113.65 in Asia suggests decline from Jan's near 5-year 116.34 peak may head to 113.35/40 before prospect of a rebound due to loss of momentum.
On the upside, only a daily close above 114.39 signals a temporary trough is in place and stronger retracement to 114.65/70 is seen later.
Data to be released on Friday
Japan corporate goods price, China exports, imports, trade balance.
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, France budget balance, CPI, EU trade balance.
US import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories and University of Michigan sentiment.
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