Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 28 July 2021 09:30GMT.

USD/JPY - 109.95

Although dollar's decline from 110.59 (Fri) to 109.59 in tandem with U.S. yields suggests early cross-inspired rise from Jul's 109.07 bottoms has made a temporary top, intra-day rebound in Europe would bring consolidation ahead of key FOMC's announcement.

A daily close above 110.13 signals pullback is over, then the outlook would turn bullish for a re-test of 110.59. Below 109.59 would shift risk to downside for weakness towards 109.07 later.

Ahead of FOMC announcement at 18:00GMT and the post-FOMC press conference at 18:30GMT, we have some second-tier data due out, please refer to our EI page for 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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