Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 26 Aug 2019 09:30 GMT

USD/JPY - 105.78
Despite dollar's intra-day gap-down open and then break of January's 104.79 low to a 33-month bottom at 104.46 in New Zealand on escalation of U.S.-China trade tensions, price rallied to 105.79 in Asian morning, then 105.95 in European morning following U.S. President Trump's comments suggests temporary low is made and stronger retracement to 106.26 may be seen.

On the downside, only below 105.17/20 would indicate recovery has ended instead, yield 104.79, then possibly 104.46 again.

Data to be released later:
Germany Ifo business climate, current conditions, expectations, U.S. durable goods, Chicago national activity and Dallas Fed manufacturing index 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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