Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK - USD/JPY

Update Time: 18 Dec 2018 08:09 GMT

USD/JPY - 112.50

The greenback's selloff yesterday on dollar's broad-based weakness to as low as 112.47 today confirms early rise from December's 1-month trough at 112.24 has ended at 113.71 last Thursday and consolidation with downside bias remains for a retest of said support, break would indicate decline from November's peak 114.71 has resumed and extend towards 111.80/90 before prospect of a correction due to over sold condition.

On the upside, only above 113.15 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 113.52.

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AceTrader Team

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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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