Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 20 Jan 2022 09:30GMT.

USD/JPY - 114.34

Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tuesday, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.

On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.

US will release a slew of eco. data later today.
Pay attention to weekly jobless claims, continued jobless claims n Philly mfg index at 13:30GMT.

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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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