fxsoriginal  Daily market outlook on major

Update Time: 25 Nov 2021 09:30GMT.

USD/JPY - 115.32

The greenback's rally this week to a fresh 3-year peak at 115.51 on Wednesday on renomination of Federal Reserve Chairman Powell for a second term and hawkish comments from central bank officials suggests Medium Term uptrend would head to 115.90/00 after minor consolidation, however, overbought condition would keep price below 116.20/30 and yield a much-needed correction.

On the downside, only below 113.89 would indicate aforesaid recovery has ended instead and risk stronger weakness to 113.59.

Data to be released on Thursday

New Zealand imports, trade balance, exports, Australia capital expenditure, building capex, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer sentiment, Italy trade balance.
U.S. Market Holiday and Canada average weekly earnings.

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