Daily recommendations on major – USD/JPY
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Update Time: 21 Jan2022 09:30GMT.
USD/JPY - 113.91
The greenback intra-day firm break of 113.97 (Thur) on active yen buying due to risk-off trade suggests recovery from last Fri's 113.49 has possibly ended at 115.05 Tue and re-test of 113.49 would be forthcoming next, break would extend decline from Jan's 5-year high at 116.34 towards 113.15, then 112.90/95.
On the upside, only a daily close above 114.22 signals a temporary bottom is in place and stronger retracement to 114.54/55 would be seen next week.
Data to be released on Friday
New Zealand manufacturing PMI, Australia manufacturing PMI, services PMI, Japan nationwide CPI.
U.K. Gkf consumer confidence, retail sales, EU consumer confidence, Canada ADP employment change, new housing price index, retail sales and leading index change.
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