Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 15 Oct 2020 09:30GMT

USD/JPY - 105.21

Despite dollar's resumption of upmove from September's 6-month trough at 104.01 to a 3-week high at 106.10 last Wednesday, subsequent fall to 105.04 in New York yesterday suggests temporary top is made and intra-day rebound would bring choppy sideways swings before prospect of another fall but 104.75/80 should hold, yield another bounce.

On the upside, only above 105.62 would risk gain to 105.80/82, break, 105.98/00.

Data to be released on Thursday

Australia employment change, unemployment rate, China PPI, CPI, Japan tertiary industry activity index.
Swiss producer and import price index, France CPI 9EU norm), CPI, Italy industrial orders, industrial sales.
U.S. New York Fed manufacturing index, import prices, export prices, initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing index, and Canada ADP employment change.

Author

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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