Daily recommendations on major – USD/JPY

AceTrader Team AceTrader

USD/JPY - 143.67

Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests a temporary top is made, Friday's gain to 143.46 in New York signals 1st leg of correction over.

Intra-day retreat from 144.26 signals top possibly made and below 143.68 would yield further weakness towards 142.85 whilst above 144.25, 144.40/50 later.

Data to be released later

Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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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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