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Daily Market Outlook
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| Daily
Market Outlook (07 Dec 2021) |
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| Update
Time: |
07 Dec 2021 08:29GMT |
| Next Update
At: |
00:30GMT |
USD/JPY - 113.67
Despite the greenback's rise to a fresh 3-year peak at 115.51 last Wednesday, subsequent selloff to 113.00 Monday and intra-day break below there 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 112.60/70, however, oversold condition would keep price above 112.30/40.
On the upside, only above 115.03 would indicate aforesaid pullback has ended instead and risk stronger gain to 115.51 again. |
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