Daily recommendations on major - USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

USD/JPY - 108.88
Although dollar's strong rebound from last Wednedsday's 106.93 low to 109.37 on Monday suggests recent decline from March's 1-month 111.71 peak has made a temporary bottom, intra-day retreat to 108.68 in Asia on usd's broad-based weakness would bring choppy sideways swings before prospect of another rise, however, reckon 109.67/70 should hold.

On the downside, only below 108.18/20 would risk stronger retracement towards 107.56.

Data to be released on Tuesday: Germany industrial output, France current account, trade balance, imports, exports, Italy retail sales. U.S. redbook, JOLTS job openings, and Canada Ivey PMI.

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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.

EUR/USD hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

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Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

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XRP rally extends as modest ETF inflows support recovery

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