Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 14 Sept 2021 09:30GMT.

USD/JPY - 110.03

Despite last Thursday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying, subsequent rebound to 109.99 Friday and intra-day break above there suggests the pullback from Wednesday's peak at 110.44 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 109.12 towards 110.70/80.

On the downside, only below 109.80 would indicate a temporary top has been made instead and risk weakness towards 109.63 later this week.

Market is awaiting the most important U.S. eco. data at 12:30GMT today, the CPI, pay attention to y/y number for Aug, estimate is 5.3% vs prev. reading of 5.4%, a higher-than-expected figure to raise expectation of Fed's tapering at next FOMC meeting on Sep 21-22 meeting n would send usd higher across the board n the flip side may happen if actual reading is lower then 5.0%.

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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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