Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

USD/JPY - 105.62
Dollar's rebound from yesterday's low at 105.31 to 105.64 in New York, then intra-day break above this level suggests near term decline from Monday's 106.47 peak has possible ended there and further gain to 105.87 would be seen after consolidation, break would extend to 106.19, break, 106.47 again.

On the downside, below 105.29/31 would risk weakness to 105.05/10 before prospect of another bounce.

All eyes are on U.S. jobs data due out at 12:30GMT, on NFP, street forecast is for an increase of 1.6 million vs prev. reading of 4.8 million whilst unemployment rate is estimated to be 10.5% vs last reading of 11.1%.

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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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