Daily recommendations on major – USD/JPY
|USD/JPY - 133.43
Although dollar's cross-inspired fall from 135.57 last Mon to as low as 131.74 (Thursday) suggests early strong rise from August's 7-week trough at 130.41 has made a top, subsequent gain to 133.89 Fri and then decline to 132.92 would yield further sideways swings but below 132.62 needed to yield weakness towards 132.04, reckon 131.74 should hold on 1st testing.
On the upside, a daily close above 133.59 (AUS) would revive bullishness for stronger gain towards 133.89, 134.37/42.
Data to be released today
U.K. Rightmove house price, Japan GDP, industrial output, capacity utilization, Germany wholesales price index, France market holiday, Italy market holiday, Swiss producer/import price.
U.S. New York Fed manufacturing, NAHJB housing market index, Canada manufacturing sales and wholesale trades on Monday.
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