Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 25 Nov 2020 09:30GMT

USD/JPY - 104.50

Dollar's jump from 103.69 to 104.63 on Monday due to rise in U.S. Treasury yields, then 104.75 in New York yesterday suggests recent decline from November's 105.67 peak has made a temporary low at 103.66 last Wednesday and consolidation would be seen before heading to 105.13/15

On the downside, only below 104.15 (Tuesday's low) may risk weakness to 103.86/90.

Although there will be no major economic data from the euro zone today, traders should remain cautious on price action in U.S. stocks. We also have ECB supervisory board member Kerstin af Jochnick scheduled to peak in a panel discussion at 11:15 GMT.

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AceTrader Team

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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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