Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2018 09:30 GMT

USD/JPY - 108.85
Dollar's intra-day break of last Friday's 7-week peak at 107.86 yesterday signals upmove from March's trough at 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 108.95/00.
However, loss of momentum would prevent sharp move beyond there and reckon 109.20/30 would remain intact and yield a much-needed correction later this week.

On the downside, only below 107.10 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 106.62 later.

U.S. will release a slew of eco. data starting with building permits, Redbook sales, monthly home prices, CaseShiller home price, new home sales, consumer confidence n Richmond Fed mfg index.

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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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