Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 15 Jan 2021 09:30GMT

USD/JPY - 103.68

The greenback's sharp retreat from 104.19 (Asia) to 103.57 on usd's broad-based weakness in late New York yesterday suggests choppy trading below Monday's 4-week peak at 104.39 would continue with downside bias, below Wednesday's reaction low at 103.53 would yield stronger retracement of upmove from December's 9-1/2 month trough at 102.60 to 103.20/25, then 102.95 later.

On the upside, only above 104.19 would abort daily bearishness and risk re-test of 104.39, break would head to 104.57/60 before prospect of correction.

Data to be released on Friday

New Zealand food price index, China house prices, Japan tertiary industry activity index, UK GDP, industrial output, manufacturing output, construction output, trade balance.
France budget balance, CPI, CPI (EU norm), EU trade balance.
U.S. New York Fed manufacturing index, PPI, core PPI, retail sales ex-autos, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment.

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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