Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2018 09:30 GMT

USD/JPY - 107.32
Dollar's intra-day rally and subsequent break of April's 1-month peak at 107.49 to 107.78 last Friday signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.90/95.
However, over bought condition would prevent sharp rise beyond there and keep price below 108.28/30 and yield a much-needed correction later this week.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

Data to be released on Thursday:
EU current account, U.K. retail sales, core retail sales, initial jobless claims, leading indicator.
Canada ADP employment change

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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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