Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jan 2018 09:30 GMT

USD/JPY - 110.69
The greenback's intra-day fall and subsequent break of November's trough at 110.84 to a fresh 4-month low at 110.58 signals erratic decline from November's peak at 114.74 has finally resumed and choppy trading with downside bias would be seen for weakness towards 110.30/35, however, over sold condition would keep price above 110.10/15 and yield a much-needed correction later this week.

On the upside, only above 111.19 would indicate a temporary low has been made and risk would increase for a stronger retracement to 111.69/70.

Data to be released today:
EU trade balance and U.S. market holiday on Monday.

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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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