Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily Market Outlook On Major

Update Time: 08 Mar 2021 09:30GMT

USD/JPY - 108.49

The greenback's rise above previous Thursday's 7-month peak 107.98 to 108.64 on Friday following release of robust U.S. jobs report suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 108.80/85 would be seen after consolidation, however, loss of momentum would keep price below 109.00 and yield a correction later this week.

On the downside, only below 107.15 would indicate a temporary top has been made and risk stronger retracement to 106.68 later.

Data to be released today

Japan current account, trade balance, coincident index, leading indicator, Economy Watchers outlook, Economy Watchers current, China exports, imports, trade balance.
Swiss unemployment rate, Germany industrial output, EU Sentix index, Canada leading index, housing starts.
U.S. wholesale inventory, wholesale sales on Monday.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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