Daily Recommendations on Major - USD/JPY
|
Update Time: 18 Feb 2020 09:30GMT
USD/JPY - 109.69
Dollar's retreat from yesterday's high at 109.96 to 109.66 (Asia) suggests choppy trading below Jan's 7-1/2 month top at 110.28 would continue with mild downside bias and marginal weakness is likely to be seen, however, support at 109.54 should contain current fall and yield another rise later. Above last Wednesday's high at 110.13 would bring re-test of 110.28, break, 110.50/55 later.
On the downside, only below 109.54 would indicate a temporary top has been made and risk would increase for stronger weakness to 109.26/30.
Data to be released later today:
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
U.S. New York Fed manufacturing index, NAHB housing market index, Canada manufacturing sales, and New Zealand GDT price index.
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.