DAILY MARKET OUTLOOK on Major
Update Time: 09 Nov 2018 09:30 GMT
USD/JPY - 113.81
The greenback's rise above Wednesday's high at 113.82 to 114.09 today on overnight Federal Reserve's hawkish hold suggests upmove from October's low at 111.38 to retrace decline from October's near 11-month peak at 114.55 has resumed and further gain towards 114.30/40 would be seen.
However, aforesaid resistance should hold on first testing and yield retreat early next week.
On the downside, only below 113.39 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 112.95.
Data to be released on Friday :
UK GDP, industrial output, manufacturing output, construction output, trad balance, NIESR GDP estimate, and U.S. PPI, University of Michigan sentiment, wholesale inventories, wholesale sales.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.