Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2019 09:30 GMT

USD/JPY - 109.54
Dollar's selloff from last Tuesday's near 2-week high at 110.67 to 109.28 Friday suggests early correction from May's 3-month low at 109.02 has ended, subsequent rebound would bring range trading before prospect of another fall and below 109.02 would extend decline April's 112.39 high to 108.82/87, however, reckon 108.50 sup should hold.

On the upside, only a daily close above 109.75 would indicate temporary bottom made and risk retracement towards 110.07/10.

Data to be released today:
Japan coincident index, leading economic index, Swiss non-farm payrolls, UK market holiday, and U.S. market holiday on Monday.

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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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