Daily recommendations on major – USD/JPY

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Daily recommendations on major – USD/JPY

Daily market outlook on major

Update Time: 08 Sept 2021 09:30GMT.

USD/JPY - 110.15

Despite the greenback's gain to 110.41 last Wednesday, subsequent selloff to 109.60 in New York on Friday following the release of poor U.S. non-farm payrolls suggests recent upmove from 109.12 has made a temporary top there and consolidation with downside bias remains for weakness to 109.42. However, said bottom should hold on 1st testing and yield a much-needed recovery later.

On the upside, only above 110.41 would revive bullishness for a re-test of August's peak at 110.79, break needed to extend uptrend from 108.73 (August) towards 110.90/00 later.

On the data front, U.S. will release second-tier data, please refer to our EI page for details. New York Fed President Williams (voter) will speak at 17:10GMT.

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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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