Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

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

USD/JPY - 109.67
Dollar's initial break of yesterday's low at 109.91 to a fresh 5-week low at 109.84 at Asian open on Trump's comments, and then present fall after remarks from China Commerce Ministry suggests decline from Apr's 4-month peak at 112.39 has resumed and further weakness towards 109.15/25 would be seen but loss of momentum should keep price above 108.73.

On the upside, only above 110.28 would indicate temporary low made, risk gain towards 110.60/70.

Data to be released on Thursday :
UK RICS housing price balance, U.S. trade balance, initial jobless claims, PPI, wholesale inventories, wholesale sales, and Canada new housing price index, trade balance, exports, imports.

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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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