Daily Recommendations on Major -USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2017 09:10 GMT

USD/JPY - 110.42
Despite intra-day marginal gain to a 2-week high of 110.73, as upward momentum of near term upmove from last Friday's 10-1/2 month trough at 107.32 is weakening, strong gain is unlikely to be repeated and reckon res at 111.05 would cap upside and yield a much-needed retracement of aforesaid rise.

On the downside, a daily close below yesterday's low at 109.90 signals 1st leg of correction is over and may risk decline to 109.25/30 before prospect of rebound.

Data to be released on later:
France CPI, Swiss interest rate decision, Italy CPI, and U.K. RICS housing price balance, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corp bond purchases.
Canada new housing price, U.S. initial jobless claims, CPI,

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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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