Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jun 2019 09:30 GMT

USD/JPY - 108.32
Despite dollar's rebound from yesterday's 108.22 low to 108.54 in New York, subsequent retreat and then intra-day break of said sup suggests correction from June's near 5-month trough at 107.82 has possibly ended at 108.80 Tuesday and re-test of 107.82 would be seen after consolidation but 107.30 should hold.

On the upside, only a daily close above 108.80 would risk gain towards 109.02, then possibly 109.20/25.

On the data front, the U.S. will release weekly jobless claims, import and export prices.
Later today, Japan's EconNib Motegi will meet with USTR Lighhizer for trade talks in Washington.

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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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