Daily Recommendations on Major - USD/JPY
|
Update Time: 19 Oct 2017 09:55 GMT
USD/JPY - 112.67
Despite dollar's drop to 111.65 on Monday, subsequent rally to 113.05 yesterday, then marginally higher to 113.35 today suggests the pullback from October's 2-1/2 month peak at 113.44 has ended there and choppy trading with upside bias would be seen , however, aforesaid top should remain intact on first testing and yield retreat later.
On the downside, only below 111.65 would revive bearishness for a stronger retracement of erratic upmove from 107.32 towards 111.48/50, then 111.12.
Data to release today:
Swiss trade balance, exports, imports, U.K. retail sales, and U.S. initial jobless claims, Philadelphia Fed survey, leading indicators.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.