Daily recommendations on major – USD/JPY
|Daily market outlook on major
Update Time: 08 Apr 2022 09:30GMT.
USD/JPY - 124.06
Dollar's rally from last Thur's bottom at 121.29 to as high as 124.23 in Australia today on continued USD's strength due to rally in U.S. yields suggests early correction from Mar's near 7-year peak at 125.10 has possibly ended and as 123.68 (Asia) has contained subsequent retreat, consolidation with upside bias remains for 124.30/40 but 124.70 should hold.
On the downside, only a daily close below 123.47 would signal a temporary top is in place and risk stronger retracement towards 123.03.
Data to be released on Friday
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.
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.