Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2017 09:26 GMT

USD/JPY - 115.84
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

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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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