fxsoriginal  Daily market outlook on major

Update Time: 26 Nov 2021 09:30GMT.

USD/JPY - 114.08

Despite the greenback's rise to a fresh 3-year peak at 115.51 on Wednesday, intra-day selloff on active safe-haven buying in JPY due to renewed Covid variant concerns suggests MT uptrend has made a temporary top there and consolidation with downside bias remains for weakness to 113.40/50 would be seen after consolidation, however, oversold condition would keep price above 113.00.

On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again.

Data to be released on Friday

Japan Tokyo CPI, Australia retail sales.
Swiss non-farm payrolls, GDP, France consumer confidence, Italy business confidence, consumer confidence.
Canada budget balance.

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