Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Sep 2016 09:20 GMT

USD/JPY - 100.54
Despite intra-day 1-tick break of last Thursday's 1-month trough at 100.10, subsequent rally to 100.99 suggests a minor low has possibly been made there and choppy trading with upside bias would be seen.
However, above resistance at 101.24 is needed to add credence to this view and yield stronger retracement of medium-term decline towards 101.58/60 before prospect of another retreat.

On the downside, only below 100.09 would revive bearishness for weakness towards 99.70/80.
However, near term loss of momentum would keep price above key daily support at 99.54 and yield correction.

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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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