Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan 2020 09:30GMT

USD/JPY - 110.21
Dollar's break above Tue's 110.20 high to a fresh 7-1/2 month peak of 110.28 in Asia today confirms medium term upmove from Aug's 33-month trough at 104.46 has once again resumed and would head towards 110.67 after consolidation, however, reckon 111.00/05 would remain intact and yield correction.

On the downside, below 109.72/79 signals temporary top made and risks stronger retracement to 109.44/50.

Data to be released later:
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.

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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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