Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 23 Jan 2020 09:30GMT

USD/JPY - 109.58
Despite dollar's resumption of medium term upmove from August's 33-month trough at 104.46 to a fresh 7-1/2 month peak at 110.28 last Friday, subsequent fall to 109.77 on Tuesday, then 109.51 in Asia today on active safe-haven yen buying suggests temporary top is in place and price would head to 109.44, then 109.00/10 after consolidation.

On the upside, only above 109.77 signals correction ended and risks gain to 110.09/11, then 110.28.

Data to be released later:
EU ECB interest rate decision, ECB deposit rate decision, consumer confidence.
U.S. initial jobless claims, leading index, KC Fed manufacturing index.

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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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