Daily market outlook on major

Update Time: 10 Aug 2022 09:30GMT.

USD/JPY - 134.99

Dollar's rally from August's 7-week trough of 130.41 to 135.57 Monday signals correction from July's 24-year peak at 139.39 has possibly ended and as 134.37 has contained retreat, upside bias remains but above 135.57 is needed to extend gain towards 135.96

On the downside, only a daily close below 134.37 would risk weakness to 134.00/05 later.

Data to be released on Wednesday

Germany CPI, Italy CPI, U.S. MBA mortgage application, CPI, wholesale inventories and Federal budget.
 

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