Update Time: 26 Oct2021 09:30GMT.
USD/JPY - 114.00
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 yesterday suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.20/22, however, near term loss of momentum would keep price above 113.00/05 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 economic data, please refer to our EI page for details, pay attention to consumer confidence at 13:00GMT.
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