Daily Recommendations on Major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 26 Feb 2020 09:30GMT

USD/JPY - 110.41
Dollar's fall from last Thursday's 9-1/2 month high at 112.22 to 109.90 in New York yesterday suggests medium term upmove from August's 33-month trough at 104.46 has made a temporary top there and intra-day rebound in tandem with U.S. yields would bring range trading before prospect of another decline, below 109.90 would extend to 109.63/66.

On the upside, only above 110.87/90 would risk stronger retracement to 111.00/03, then 111.20/22.

Apart from the US housing data which will be released today, there are a slew of Federal Reserve speakers due to speak today so one should pay attention to the following; Dallas Fed President Kaplan at 14:45GMT and Minneapolis Fed President Kashkari at 18:00GMT.

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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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