Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2018 09:30 GMT

USD/JPY - 112.26
The greenback's break of Tuesday's 7-week peak at 112.39 to 112.45 yesterday due partly to comments from Bank of Japan Governor Haruhiko Kuroda suggests upmove from August's trough at 109.78 remains in progress and further gain towards 112.80 would be seen, however, over bough condition would keep price below 113.00.

On the downside, only below 111.66 would indicate a temporary top has been made and risk stronger retracement towards 111.38/40.

Economic data out later on Thursday :

Swiss imports, export, trade balance, SNB interest rate decision, UK retail sales, U.S. initial jobless claims, Philadelphia Fed survey, existing home sales, leading indicator, Canada ADP employment change, and EU consumer confidence.
Today is the second of the 2-day EU summit meeting in Salzburg, Austria.

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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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