Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 14 Feb 2019 09:30 GMT

USD/JPY - 111.09
The greenback's break of yesterday's 6-week peak at 111.06 on Trump's extension for China tariffs deadline to 111.13 suggests erratic upmove from January's 9-month trough at 104.79 remains in progress and further gain towards 111.40 would be seen, however, over bought condition would keep price below resistance at 111.72 and yield correction.

On the downside, only below 110.65 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement to 110.35.

Data to be released later :
France ILO unemployment rate, Germany GDP, wholesale price index, Swiss producer/import price, EU employment change, GDP.
U.S. initial jobless claims, PPI, retail sales, business inventories, and Canada manufacturing sales, new housing price 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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