AceTraderFx Jan 23: Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jan 2019 09:30 GMT

USD/JPY - 109.58
Dollar's rally from Tuesday's low at 109.15 to 109.80 in Asia today due to cross-selling in yen suggests pullback from last Friday's 2-1/2 week high at 109.88 has ended and recent upmove from January's 9-month trough of 104.79 would extend to 110.00/10 after consolidation.

On the downside, only below 109.33 would indicate temporary top made, risks re-test of 109.15, break, 109.07, then 108.70/80.

Data to be released later on Wednesday :
France business climate, Italy producer prices, UK CBI trends survey, EU consumer confidence.
Canada retail sales, and U.S. redbook, monthly home price, Richmond Fed manufacturing index, building permits, wholesale inventories, retail sales, housing starts, business inventories, new home sales, durable goods, durables ex-defence, durables ex-transport, factory orders, wholesale inventories, wholesale sales.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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