Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 11 Dec 2020 09:30GMT

USD/JPY - 104.05

Despite dollar's resumption of upmove from last Thursday's 103.68 to 104.57 in Europe yesterday, subsequent retreat and intra-day fall to 103.93 in Asia suggests further choppy trading inside recent 103.66-104.75 range would continue, however, reckon said lower level should hold and yield another bounce.

On the upside, only above 104.57 would bring re-test of 104.75, where break would head to 105.13/15.

Data to be released later

Germany CPI, HICP, Italy industrial output, Canada capacity utilization.
U.S. PPI, core PPI, University of Michigan sentiment.

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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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