Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 13 Oct 2017 09:25 GMT

USD/JPY - 112.06
Dollar's intra-day cross-inspired break of this week's low at 111.99 (Tue) confirms decline from last Friday's 2-1/2 month peak at 113.44 has resumed and would head towards 111.48, oversold condition may keep price above 111.12.

Only above 112.32 (AUS) suggests correction has possibly ended and yields stronger gain towrds 112.59 but 112.83 would cap upside.

U.S. will release CPI, retail sales, business inventories and U. of Michigan consumer confidence.
Today, we have a line of Fed officials delivering speeches starting with Boston Fed's Rosengren (non-voter) n Fed Gov. Powell (voter) at 12:30GMT, then Chicago Fed's Evans (voter) at 14:25GMT, Dallas Fed's Kaplan (voter) at 15:30GMT n Fed's Powell again at 17:00GMT.

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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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