Daily recommendations on major – USD/JPY

  Daily market outlook on major

Update Time: 21 Oct 2021 09:30GMT.

USD/JPY - 114.03

Despite the greenback's rise to a fresh 3-year peak at 114.69 in Asia yesterday, subsequent retreat suggests Medium Term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.89 (Tuesday), however, near term loss of momentum would keep price above 113.80 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

U.S. will release a slew of eco. data, please refer to our EI page for details and pay attention to weekly jobless claims n leading index.
We also have Fed Gov. Waller speaking at an online financial forum at 13:00GMT.