Daily recommendations on major – USD/JPY
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Update Time: 19 Jan2022 09:30GMT.
USD/JPY - 114.41
Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tue, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.
On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.
US will later release of slew of second-tier eco. data, so market will take cue from movement in U.S. yields and equities.
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