Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 19 Feb 2019 09:30 GMT

USD/JPY - 110.67
Dollar's selloff from last Thursday's 6-week high at 111.13 to 110.26 Friday suggests recent upmove from January's 9-month trough of 104.79 has made a temporary top there, subsequent rebound to 110.65, then intra-day brief break of said res to 110.71 on Bank of Japan Governor Kuroda's dovish comments would bring range trading with mild upside bias but 110.82/87 should hold and yield retreat.

On the downside, below 110.46 (Asia) would bring re-test of 110.26, where break would extend to 109.85/90.

As there is no major eco. data due today, focus remains on Cleveland Fed President Loretta Mester's speech on economic outlook and monetary policy in Newark at 13:50GMT.

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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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