Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily Market Outlook On Major

Update Time: 21 Oct 2020 09:30GMT

USD/JPY - 104.88

Dollar's intra-day selloff on usd's broad-based weakness and then break of previous October's 104.95 low suggests recent upmove from September's 6-month trough at 104.01 has made a temporary top at October's 106.10 high and stronger retracement to 104.60/70 would be seen after consolidation but 104.41/45 may hold, yield rebound.

On the upside, only above 105.31/36 would risk gain to 105.50/55 but 105.82 should remain intact.

Data to be released later

UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output prices, PSNB, PSNCR, DCLG house price index.
U.S. MBA mortgage applications, and Canada CPI, core CPI, new housing price index, retail sales, retail sales ex-autos.

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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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