Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 17 Sept 2020 09:30GMT

USD/JPY - 104.81

The greenback's fall to a 6-week trough at 104.81 in New York morning yesterday and intra-day break below this level to 104.70 signals erratic decline from August's peak at 107.04 remains in progress and further weakness to 104.59 would be seen after consolidation, however, loss of momentum would keep price above daily support at 104.19 and yield a much-needed rebound later.

On the upside, only above 105.17 would indicate a temporary low has been made and risk stronger retracement to 105.54/56 but resistance at 105.81 should hold.

Pay attention to U.S. jobless claims at 12:30GMT. Street forecast is for a decrease to 850k from previous reading of 884k.

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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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