fxsoriginal   DAILY MARKET OUTLOOK on Major
Update Time: 11 Jul 2019 09:30 GMT

USD/JPY - 108.07
Despite the greenback's resumption of upmove from June's 5-1/2 month trough at 106.79 to a 1-month peak at 108.99 in Asia yesterday, subsequent selloff in New York session to 107.86 today on Federal Reserve Chair Powell's dovish remarks to Congress suggests a temporary top has been made and consolidation with downside bias remains for weakness to 107.50/54, however, near term loss of momentum would keep price above 107.21. 

On the upside, only above 108.36 would indicate said pullback has ended instead and risk gain to 108.63, then 108.99 early next week.

Data to be released on Thursday :
Germany CPI, HICP, France CPI, Canada new housing price index, U.S. weekly earnings, CPI, core CPI and Federal budget. 

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD holds onto gains above 1.1150 amid Brexit, trade headlines

EUR/USD is trading above 1.1150, holding onto gains. The common currency was swept higher with Brexit optimism and after China said concrete progress with the US. The USD remains on the back foot.


GBP/USD trades around 1.30 amid Brexit developments

GBP/USD has retreated from the fresh highs above 1.30, as UK House Speaker Bercow is set to announce if parliament will debate the Meaningful Vote on Brexit again. 


USD/JPY: Holds steady above mid-108.00s, awaits fresh catalyst

The USD/JPY pair stalled its recent pullback from the vicinity of the 109.00 handle, or 2-1/2 month tops, and managed to regain some positive traction on the first day of a new trading week.


Top 3 price prediction BTC, ETH, XRP: Building on future profits

The trading week is kicking off with a continuation of the last week's scenario. The consolidation process continues and deepens, especially in the relationship between Ethereum and Bitcoin.

Read more

Gold: Sidelined near $1,490 after PBOC's rate decision

Gold's struggle for clear directional bias continues after the People's Bank of China's (PBOC) interest rate decision. The yellow metal has been restricted largely to a narrow range of $1,500 to $1,480 since last Monday.

Gold News

Forex Majors