Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 20 Nov 2020 09:30GMT

USD/JPY - 103.86

Dollar's intra-day sideways swings following retreat from yesterday's 104.21 high to 103.73 in Australia suggests recovery from Wednesday's 103.66 low has ended and consolidation would be seen before decline from November's 105.67 peak resumes and heads to 103.45/50, however, reckon November's 7-1/2 month trough of 103.18 would hold today.

On the upside, only above 104.21/24 would dampen bearishness and risk stronger retracement to 104.61/66.

On the calendar front, although there will be no economic data from U.S. today, we have a few Fed officials scheduled to speak later in New York session, please refer to our EI page for more details.

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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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