Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 21 Mar 2019 09:30 GMT

USD/JPY - 110.35
Dollar's selloff yesterday and then break of previous sup at 110.79 to a near 3-week low of 110.54 after Fed's dovish hold suggests recent decline from March's 10-week high at 112.14 has once again resumed and further weakness towards 110.10/15 would be seen but oversold condition should keep price above 109.90/00.

On the upside, only above 111.01 would indicate temporary low has been made instead, risk stronger retracement to 111.38.

Pay attention to the release of US jobless claims at 12:30GMT.
Street forecast is for a drop to 225k from previous reading of 229k.

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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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