fxsoriginal   DAILY MARKET OUTLOOK on Major

Update Time: 10 Dec 2019 09:30GMT

USD/JPY - 108.64
Although dollar has recovered after yesterday's re-test of last Wed's low at 108.44 and consolidation with mild upside bias would be seen, however, reckon 108.91/99 would remain intact and yield prospect of another decline, below 108.44 would extend fall from Dec's 6-month 109.72 high towards 108.25, then 107.90 (Nov bottom).

On the upside, only above 108.99 would risk stronger retracement to 109.20, break, 109.41/45.

In the absence of major economic data from the U.S. today, investors are looking for more clarity on whether U.S. would impose the increased tariffs on Chinese goods, starting Dec. 15 or if the two countries can agree on a limited trade deal.

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