Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 15 Oct2021 09:30GMT.

USD/JPY - 114.13

The greenback's intra-day firm break above Wednesday's fresh near 3-year peak at 113.80 signals Medium Term uptrend remains in progress and further gain towards 114.55 would be seen after minor consolidation, however, overbought condition would keep price below 114.74/75 and yield a much-needed correction early next week.

On the downside, only below 113.22 would indicate a temporary top has been made and risk stronger retracement towards 112.80/90 before prospect of a rebound.

T.G.I.F., U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to Sep retail sales n University of Michigan consumer confidence at 12:30GMT n 14:00GMT respectively. We also have St. Louis Fed president Bullard (non-voter) n NY Fed President Williams (voters) speaking in NY session.

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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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