Daily market outlook on major
Update Time: 12 July 2022 09:30GMT.
USD/JPY - 137.22
Dollar's rally above previous 136.99 daily resistance to a fresh 24-year peak at 137.75 in New York Monday on broad-based safe-haven usd buying suggests long term uptrend has once again resumed and further gain to 138.15 would be seen but reckon 138.45/55 should remain intact and yield correction later.
On the downside, only a daily close below 136.99 would indicate a temporary top is in place and risk stronger retracement towards 136.56.
Data to be released on Tuesday
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.
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