Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 19 Oct 2017 09:55 GMT

USD/JPY - 112.67
Despite dollar's drop to 111.65 on Monday, subsequent rally to 113.05 yesterday, then marginally higher to 113.35 today suggests the pullback from October's 2-1/2 month peak at 113.44 has ended there and choppy trading with upside bias would be seen , however, aforesaid top should remain intact on first testing and yield retreat later.

On the downside, only below 111.65 would revive bearishness for a stronger retracement of erratic upmove from 107.32 towards 111.48/50, then 111.12.

Data to release today:
Swiss trade balance, exports, imports, U.K. retail sales, and U.S. initial jobless claims, Philadelphia Fed survey, leading indicators.

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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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